Contract breach: N625m suit slammed on CAC, NCAA, 4 others

Posted by News Express | 24 August 2021 | 521 times

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A United States-based Nigerian, Mr. Kenny Awosika, has slammed a N625 million suit on the Corporate Affairs Commission (CAC), Nigerian Civil Aviation Authority (NCAA) and four others at a Federal High Court in Lagos over alleged breach of contract. 

Babawande Afolabi; Green Africa Airways Ltd; Taiwo Afolabi and Kuramo Africa Opportunity II (Mauritius) LLC, were joined as co-defendants in the suit.

In the suit marked FHC/L/CS/949/2021 filed through his lawyers, Femi Falana (SAN) and D. A. Awosika (SAN), the plaintiff is asking the court to declare him as a promoter/co-founder of Green Africa Airways Ltd and that he is entitled to 55 percent of its authorised share capital.

Awosika also prayed the court to compel the first defendant, Babawande Afolabi, to pay him N625 million as general, exemplary and aggravated damages for breach of agreement.

In the alternative, the plaintiff is praying the court to order the defendants to pay him the sum of $30,250,000.00 being the monetary value of 55 percent of Green Africa Airways as at the last valuation in 2019.

Other reliefs being sought by Awosika include an order removing forthwith the name of the 3rd defendant (Taiwo Afolabi) as Director and Shareholder from the 2nd defendant (Green Africa Airways)

An order allotting 55 percent of the authorised share capital in the 2nd defendant to the plaintiff and compelling the 5th defendant (CAC) to register the plaintiff as subscriber and owner of 55 percent authorised share capital of the 2nd defendant.

He is also seeking for an order compelling the Company Secretary of the 2nd defendant to issue the share certificate for 55 percent authorised share capital of the 2nd defendant in his favour and to enter Awosika’s name and his seed investors into the register of shareholders of the 2nd defendant.

He is also praying for an order of perpetual injunction restraining Babawande and the airline from carrying on any aviation business under any guise without his involvement, as well as a perpetual Injunction restraining Babawande and the airline from dealing with the ATL other than with Awosika’s express written consent.

In his statement of claim, Awosika averred that he is co-founder and a Director of Green Africa Airways Ltd (registered in Nigeria in 2015) and equally functions as its Director of Information Technology and Innovation of the airline. He is also the founder and co-owner of Green White Group LLC (GWG Maryland), a limited liability company registered in Germantown, Maryland, United States of America.

(New Telegraph)

Source: News Express

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