Law News
Court grants Honeywell access to bank accounts

A Federal High Court sitting in Lagos, has granted Honeywell Flour Mills Plc access to its funds in all banks in Nigeria.

Trial judge, Justice Mohammed Yunusa said it would be unfair to continue to deny them access to their funds since the case is yet to be determined.

The court had, following an ex-parte application by Ecobank Nigeria Limited through its lawyer Mr Kunle Ogunba, SAN, made an order against chairman of Honeywell Group, the company’s directors and others from withdrawing from any bank or financial institution over an alleged dent.

But Honeywell, through its counsel Chief Wole Olanipekun, SAN, sought to discharge the order, contending that it was an abuse of court process.

In its counter-affidavit, the company said: “Sometime in 2013, the applicant along with its sister companies, Anchorage Leisures Ltd and Siloam Global Ltd under the auspices of their parent company, Honeywell Group Ltd, commenced discussions with the respondent with a view to a global and complete settlement of their outstanding liabilities towards which parties agreed for a total full and final payment of N3.5 billion the agreed sum.”

Ruling, Justice Yunusa said he was inclined to vary the orders to enable Honeywell group meet its financial obligations.

Meanwhile, further hearing in the matter, continued January 13.

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