A case filed against Odu’a Investment Company Limited by Holidays and Tours Limited over a contract concerning Lagos Airport Hotel has been dismissed by a Federal High Court sitting in Lagos.
According to Justice Ibrahim Buba, who presided over the case, he said the company’s claim against Odu’a Investment lacked merit, stating that there was not enough evidence to prove that there was a subsisting contract between the two parties.
Holidays and Tours Limited had alleged that it entered into a lease, redevelop, operate and transfer contract with the conglomerate on the management of the hotel. On April 21, 2017, the company placed a caveat emptor advertisement in a national daily, warning potential investors to disregard the expression of interest notice placed by KPMG on behalf of Odu’a for the re positioning of the hotel.
While dismissing the case, Justice Buba said that Holidays and Tours was not entitled to any relief for an award of damages or injunction as being sought.
Justice Buba said;
“The relief being sought by the plaintiff is the most egregious relief. The plaintiff was a small outfit, which before its bid in the lease, redevelop, operate and transfer scheme, never operated a major hotel in Nigeria but now sought this gold-digging prayer to be granted N1bn gratuitously”
Reacting to the judgment, the Head, Corporate Affairs, Odu’a Investment Company Limited, Victor Ayetoro, said the hotel was free from litigation or any obstruction against invitation of investors to move it forward.
Adding that “The outcome of the case meant that stakeholders and potential investors are assured that there is no encumbrance or pending litigation on Lagos Airport Hotel.”