A Lagos High Court has stopped a real estate firm, UACN Property Development Company Plc, from dissipating, disposing or tampering with a parcel of land measuring 5, 306, 989 square meters, situated in Bishop Aboyade Cole Street, Victoria Island in Lagos State, pending the hearing and determination of suit filed against it.

Justice Olufunke Sule-Amzat gave the order while delivering Bench ruling in an application for a preservative order on the said landed property.

The application was brought before the court by one Oluwafemi Ayodele through his team lawyers, led by Mr. Gboyega Oyewole (SAN), alongside Kolawole Salami, Ademola Adefolaju and Tobiloba Oyewole.

The Judge, in her ruling, held that: “I have listened to the Learned Silk, Gboyega Oyewole (SAN), praying the court for a preservative order to maintain status quo in order to forestall the dissipation of the ‘res’ (subject matter). I have taken cognisance of the fact that the preservation of the ‘res’ would serve the better end of justice.

“I am also mindful that there is a need to hear the other side and prevent breakdown of law and order, parties in this suit are hereby ordered to maintain status quo pending the hearing and determination of this suit.”

The claimant, Oluwafemi, In his originating summons was brought pursuant to Section 272(1) of the 1999 Constitution (as amended), Order 5 Rules of the High Court of Lagos State (Civil Procedure) 2019, and under the court’s inherent jurisdiction.

The claimant is asking the court for the following reliefs: “A declaration that the contract duly executed by him and the defendant (UPDC Plc) based on the offer letter dated September 28, 2022, is valid and subsisting having regard to the acceptance of same and payment of consideration.

“A declaration that the defendant is not entitled to renege on the valid and subsisting contract between him and the defendant constituted vide an offer letter dated September 28, 2022, and acceptance of same with the due payment of the consideration for the offer.

“An order of specific performance in the following terms: ‘Execution of the Deed of Transfer by the defendant over the offered parcel of land measuring 1,000 Square metres representing the portion of the entire land area covered by the piles, along Bishop Aboyade Cole Street, Victoria Island, Lagos.

“Handover of all title documents in relation of the said parcel of land measuring 1,000 square metres covered by the piles in Bishop Aboyade Cole Street, Victoria Island, Lagos situate to the claimant.

“Execution of all relevant documents necessary to vest proper title over the parcel of land measuring 1,000 square metres in the claimant, and the cost of filing the suit.”

The claimant In an affidavit in support of the originating motion deposed to by Kayode Adeboye, a Litigation Clerk in the firm of Lords and Temple Attorneys, Counsel to the claimant, stated that sometimes in September 2022, the claimant instructed his agent, Adekola Titilayo of Tilee Global Trust Limited, to submit an application to the defendant for the purchase of a parcel of land measuring 5, 306. 989 square representing the portion of the entire land covered by a Certificate Of Occupancy dated August 28, 2006, and registered and numbered as number 99 at page 99 in the Volume 2006R by the piles situated in Bishop Aboyade Cole Street, victoria Island, Lagos State

He stated that sequel to the submission of the application, series of meetings and discussions were held between the claimant, his agent and the representatives of the defendant, at the instance of the defendant.

The claimant added that upon the close of discussions, the defendant, vide an Offer Letter dated September 28, 2022, agreed to sell only 1,000 square metres from the 5,306.989 situate in Bishop Aboyade Cole Street, Victoria Island, Lagos State to the Claimant for the sum of N600 million inclusive of taxes and charges.

The deponent stated that as one of the conditions for the Offer, the Claimant promptly communicated his acceptance of the offer on September 29, 2022, and proceeded with the payment of the agreed purchase price of N600 million to the defendant’s bank account number: 0128584014 in First City Monument Bank (FCMB).

He averred that upon completing the payment of the purchase price, the claimant instructed his agent, Adekola

Titilayo of Tilee Global Trust Limited, to notify the defendant of the payment of the purchase price, which the agent promptly did vide his letter dated October 25, 2022.

The claimant stated that vide the letter of October 25, 2022, the claimant also requested for a date and time for the surveyors of the parties to meet to enable them measure/carve out the portion offered for sale to him, and to enable the claimant prepare the necessary transfer of title documents for execution.

He stated that despite of the service of the letter of the claimant’s agent dated October 25, 2022, the defendant refused to respond of acknowledge the receipt of the payment made by the claimant for the parcel of land measuring 1,000 square metres, representing, the portion of the entre land area covered by the piles, situate in Bishop Aboyade Cole Street, Victoria Island, Lagos State, offered to the claimant vide the contract dated 28^th September 2022.

Meanwhile, Justice Sule-Amzat has ordered that hearing notice be issued to the defendant, and adjourned the matter to February 7, 2023, for further proceedings. (THISDAY)

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