Indorama: Court strikes out case against Directors of Elano Investments Ltd

Indorama: Court strikes out case against Directors of Elano Investments Ltd

Wednesday, October 6, 2021 8:13 am



Okafor Ofiebor /Port Harcourt

A Rivers State High Court presided over by Hon. Justice Monima.W. Danagogo on Tuesday struck out a suit filed by the Rivers State Government against Elano Investments Limited and three of its directors.

The court also discharged the directors, Chief Gomba Okanje, Hon. Onorwi Ngofa and Hon. Godwin Risi on all the charges levied against them.

The judgment of the Court came after Godwin Obla (SAN), the lead counsel to the Attorney-General of Rivers State informed the court that his client had instructed him that the charges against the defendants be withdrawn because the parties in the suit had reached a settlement in the interest of the host communities.

Counsel to the defendants, Mr. Joseph Ezekwu, confirmed the out-of-court settlement reached by the parties and did not oppose the withdrawal of the charges by the prosecution.

He then moved a motion for the court to discharge and acquit the defendants. He also moved another motion withdrawing the motion for stay of proceedings he had moved before the court on the 30th of September, 2021.

In his ruling, Hon. Justice Monima Danagogo struck out the motion for stay of proceedings and adopted the settlement reached by the parties as the judgment of the court.

The settlement of the case sets the stage for the resolution of the long-drawn crisis between some members of Indorama Eleme Petrochemicals and Fertilizer Company Limited and Elano Investments Limited, the company mandated to manage the shares of the six host communities of Indorama.

Details of the settlement were not however disclosed in court. But the judge said copies of the judgment would be made available to the parties soon.


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