• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, July 28, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Honeywell Wins N72.2bn Damages Case Against Ecobank

by Zaka Khaliq
2 years ago
in Cover Stories
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

Honeywell Flour Mills Plc (HFMP) has emerged triumphant in a damages case against Ecobank Nigeria. The ruling, delivered on Tuesday by the Federal High Court, has settled a protracted legal battle between the food manufacturing company and the banking institution.

In 2018, HFMP filed a suit against Ecobank, seeking damages in the excess of N72 billion, over the bank’s decision to freeze its assets in November 2015 after obtaining ex-parte orders from the Federal High Court. Honeywell was, however, able to successfully regain full access to its assets in 2016, after the Court of Appeal overturned the Federal High Court’s ex-parte orders.

In 2018, the Supreme Court ultimately upheld the Court of Appeal ruling after it was approached by Ecobank to overturn the decision to return full access to Honeywell Flour Mills.

Of particular importance in the hotly-contested case is the fact that Ecobank, in its initial application, submitted an undertaking to compensate Honeywell Flour Mills for any harm or losses suffered as a result of the ex-parte order, if it is determined that the application was without merit.

RELATED

Victorious Super Falcons Stun Morocco To Clinch 10th WAFCON Title

BREAKING: Tinubu Rewards Victorious Super Falcons With National Honours, $100,000, Houses

6 hours ago
LCCI To FG: Ensure Food Security, Curb Inflation, Stabilise Naira To Drive Inclusive Economy

LCCI To FG: Ensure Food Security, Curb Inflation, Stabilise Naira To Drive Inclusive Economy

18 hours ago

Honeywell Flour Mills, therefore, told the Federal High Court it was seeking damages based on this undertaking after the Supreme Court determined that the ex-parte orders obtained by the bank were improper.

During the hearing of the suit over the payment of damages on Tuesday, Hon. Justice Liman dismissed Ecobank’s preliminary objection and expressed his displeasure with the use of an ex parte order to freeze assets:

To him, “the purpose of an undertaking to pay damages has been held in a legion of cases to indemnify the party for the losses he may suffer on the bases of an ex parte order. Note that Rule 4 of the Winding Up Rules provides that all applications which affect the rights of parties in a winding-up proceeding must be made on notice.

“The provisions of the winding up rules are very clear and unambiguous. The defendant cannot claim ignorance of this provision as ignorance of the law is no excuse and it is even more inexcusable if it is committed by a lawyer. The ex parte application was therefore made ultra vires.”

All four reliefs sought by HFMP to the tune of N72.2 billion were granted in its entirety by Liman J sitting at the Federal High Court: “The defendant’s arguments in this regard cannot stand….I have no hesitation in granting relief in favour of the plaintiff.”

The judge awarded Honeywell Flour Mills damages, saying, “The argument of the defendant has no basis.

In his reaction to the win, Honeywell lead counsel, Bode Olanipekun, SAN expressed his satisfaction with the ruling.

He noted that: “it’s a commendable decision and precedent in an area of our jurisprudence that has been scarcely tested. The court has awarded damages in a claim brought on the premise of an undertaking given for the grant of ex parte orders which both the Court of Appeal and Supreme Court have found were improperly sought and granted.”

Business experts and analysts believe that the impact of this court decision extends beyond the confines of the specific legal case.

 

 


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel




SendShareTweetShare
Previous Post

Gov Lawal Condoles Businessman Dahiru Mangal Over Wife’s Death

Next Post

Hijrah: Kebbi, Jigawa, Sokoto, Kwara, Osun Declare Today Public Holiday

Zaka Khaliq

Zaka Khaliq

You May Like

Victorious Super Falcons Stun Morocco To Clinch 10th WAFCON Title
Cover Stories

BREAKING: Tinubu Rewards Victorious Super Falcons With National Honours, $100,000, Houses

2025/07/28
LCCI To FG: Ensure Food Security, Curb Inflation, Stabilise Naira To Drive Inclusive Economy
Cover Stories

LCCI To FG: Ensure Food Security, Curb Inflation, Stabilise Naira To Drive Inclusive Economy

2025/07/28
NIDCOM Boss Calls For More Diaspora Investment In Africa
Cover Stories

Experts Urge Pathway To Harness Diaspora Investment For Nigeria’s Development

2025/07/28
Motorists Raise Alarm As FG Abandons Damaged Lagos Lotto Bridge
Cover Stories

Motorists Raise Alarm As FG Abandons Damaged Lagos Lotto Bridge

2025/07/28
Nigerians In Diaspora Invest $90bn In Economy – Commission
Cover Stories

We Are Intensifying Effort On Diaspora Investments–FG

2025/07/27
2027: ADC Leaders Mull Plan B, Pursue ADA Registration
Cover Stories

2027: ADC Leaders Mull Plan B, Pursue ADA Registration

2025/07/27
Leadership Conference advertisement

LATEST

Correctional Service, REA Sign Pact To Enhance Power, Vocations For Inmates

Residents Protest ‘Killing’ Of 20 Villagers In Katsina

2027: Ex-Govs Fayose, Adebayo, Oni, Others Endorse Tinubu, Oyebanji For Second Term

Patients Stranded As Lagos Doctors Begin 3-Day Warning Strike Over Salary Deductions

Nurses, Midwives To Begin 7-Day Warning Strike Tuesday

NMA Gives Federal Gov’t 21-Day Ultimatum Over Unmet Demands

Makinde Allocates 1,000 Hectares Of Land To Curb Illegal Migration

By-election: Abas Urges Residents To Vote APC In Ibadan North

Residents Reject Oyo Govt’s Plan To Extend Rashidi Ladoja Circular Road

Nigeria Loses ₦17.9trn Yearly To Hepatitis — Minister

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.