Shareholders Want Court To Stop Dangote As NSE President

Date: 27-06-2012 7:29 pm (12 years ago) | Author: Omogbolahan Babs
- at 27-06-2012 07:29 PM (12 years ago)
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Shareholders of the African Petroleum, AP Plc Wednesday asked the Supreme Court to  nullify the Court of Appeal verdict which gave way for the resumption of the Alhaji Aliko Dangote as the President of the Nigerian Stock Exchange, NSE.

In an originated summon filed by their counsel, Mr Onyebuchi Aniakor, they contended  that the appellate court erred in law, in proceeding in the face of the undisputed facts on the record to hold, that ‘the order to maintain status quo had no basis.

They said there was nothing done at that point in the proceedings that could worsen the position of the plaintiffs.

They  further contended  that the appellate court erred in law in proceeding, as they so did, to substitute and/or set aside the trial court’s exercise of its discretion and to substitute same with the lower court’s own discretion contrary to the settled legal principles and the law and in the absence of any lawful or justifiable ground.

They said the court’s decision and/or order setting aside and/or vacating the trial court’s order for maintenance of the status quo and allowing Dangote’s appeal is a nullity for having been predicated on a non-existent record of appeal.


Posted: at 27-06-2012 07:29 PM (12 years ago) | Gistmaniac

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