Judge commends counsel for encouraging parties to settle amicably out of Court

IN THE HIGH COURT OF JUSTICE, FEDERAL CAPITAL TERRITORY ABUJA IN THE ABUJA JUDICIAL DIVISION  HOLDEN AT MAITAMA, ABUJA  BEFORE HIS LORDSHIP: HON. JUSTICE M.M. DODO  DELIVERED ON 17TH DAY OF MAY, 2017  SUIT NO. FCT/HC/CV/1350/2015 BETWEEN:   OLATUNDE ONANUGA……  PLAINTIFF/APPLICANT AND RESORT SAVING AND LOANS PLC……….DEFENDANT/RESPONDENT Appearance:  O.N. Kelvin appearing for the Plaintiff   Okani Emmanuel […]

IN THE HIGH COURT OF JUSTICE, FEDERAL CAPITAL TERRITORY ABUJA IN THE ABUJA JUDICIAL DIVISION  HOLDEN AT MAITAMA, ABUJA 

BEFORE HIS LORDSHIP: HON. JUSTICE M.M. DODO 

DELIVERED ON 17TH DAY OF MAY, 2017 

SUIT NO. FCT/HC/CV/1350/2015 BETWEEN:  

OLATUNDE ONANUGA…… 

PLAINTIFF/APPLICANT AND RESORT SAVING AND LOANS PLC……….DEFENDANT/RESPONDENT

Appearance:  O.N. Kelvin appearing for the Plaintiff  

Okani Emmanuel for the Defendant. 

CONSENT JUDGMENT

The plaintiff initiated this suit against the defendant and claiming the reliefs namely:- 

a. A declaration that the plaintiff is the current and bona fide owner of A Avenue house 10 F Road Mount Pleasant Mbora District Abuja. 

b. A declaration that the defendant does not have the power to sale or advertise the sale of the property of the plaintiff situate at A Avenue House 10 F Road Mount Pleasant Mbora District Abuja. 

c. A declaration that any sale or attempt to sale the property of the plaintiff situate at A Avenue House 10 F Road Mount Pleasant Mbora District Abuja amounts to a nullity. 

d. A declaration that the plaintiff is only indebted to the defendant to the unpaid sum plus interest therein. 

e. A declaration that it is inconceivable for the defendants to write to the plaintiff terminating the mortgage and advertising the property for sale when the mortgage duration is till 2016. 

f. A declaration that the Letter of Termination from the defendant which automatically affects the plaintiff’s title to A Avenue House 10 F Road Mount Pleasant Mbora District Abuja dated 6th March 2015 is unwarranted, illegal, null and void. 

g. A declaration that on the facts and circumstances of this case, the defendants are stopped from selling the property situate at A Avenue House 10 F Road Mount Pleasant Mbora District property to any person or group of persons whomsoever and howsoever. 

IN ALTERNATIVE TO THE ABOVE: 

1. The sum of N80 million being the present market value of the property due to recent development carried out by the plaintiff. 

2. The sum of N5,000,000 being punitive and general damage against the Defendant. 

3. An Order directing the defendants to pay N1,000,000 to the plaintiff’s as cost and expenses regarding this suit.

Pleadings were exchanged by the parties and the case was mentioned but the parties to the suit deemed it necessary to settle the matter out of court, which they filed their terms of settlement on the 15th of May 2017 and which is dated 15th May 2017. The parties have in the terms of settlement agreed to settle the matter out of court upon the following terms and conditions namely: 

a. A declaration that the plaintiff is the current and bona fide owner of A Avenue House 10 F Road Mount Pleasant Mbora District Abuja.  

b. A declaration that the defendant does not have the power to sell or advertise the sale of the property of the plaintiff situated at A Avenue House 10 F Road Mount Pleasant Mbora District Abuja.  

c. A declaration that any sale or attempt to sell the property of the Plaintiff situated at A Avenue House 10 F Road Mount Pleasant Mbora District Abuja amount to nullity. 

d. A declaration that the plaintiff is only indebted to the defendant to the unpaid sum plus interest therein. 

e. A declaration that it is inconceivable for the defendant to write to the Plaintiff terminating the mortgage and advertising the property for sale when the mortgage duration is till 2016. 

f. A declaration that the letter of termination from the defendant which automatically affects the plaintiff’s title to A Avenue House 10 F Road Mount Pleasant Mbora District Abuja dated 6th March, 2015 is unwarranted, illegal, null and void. 

g. A declaration that on the facts and circumstances of this case, the Defendants are stopped from selling the property situated at A Avenue House 10 F Road Mount Pleasant Mbora District Abuja property to any person or group of persons whomsoever and however. 

However, Counsel for the parties saw the need for the parties to resolve this matter amicably. Parties therefore resolve and agree as follows:-  

1. That the Plaintiff shall pay the defendant the sum of  N22,000,000 (twenty-two million naira) only as full and final payments for the loan granted to the plaintiff by the defendant. 

2. That the payment shall be made in two instalments. 

3. That the first N20,000,000 (twenty million naira) only shall be paid immediately upon parties executing this term of settlement and the second payment of N2,000,000 (two million naira) only shall be paid within 30 days of the date of first payment.  

4. That the plaintiff shall issue a postdated Cheque of the sum of N2,000,000 (two million naira) only  which shall be presented by the defendant 30 days from the date of the first payment.  

5.  That all payment shall be done through counsel for the defendant, E. I. Okani & Associates and Parties shall be bound by the Term of this settlement.  

6. That no further charges or additional fee shall be paid by the plaintiff on total payment of that sum mentioned in paragraph 1 above.  

7. That upon final payment the defendant shall hand over the original Title Document to the plaintiffs’ counsel on record.  

8. That no other interpretation shall be given to these terms of settlement other than the express wordings as contained herein. 

9.  That these terms of settlement shall be entered as Consent Judgment between the parties. 

Court:- I have carefully listened to the learned plaintiffs’ counsel addressing the court to accept and adopt the Terms of Settlement assigned to this court between the parties. As confirmed by the Learned Counsel for the defence, I have read through the said terms of settlement whereby both parties executed as well as their learned counsel; it is certainty an evidence of true intention of the parties for this reason, the application is hereby granted and the said terms of settlement is hereby accepted and adopted as Consent Judgment of this court for the Plaintiff and the defendants. 

This court hereby commends the efforts of the learned counsel for encouraging the parties to sort it out of court amicably.  

Signed 

Judge        17/05/2017.