Company Law Archives

FURTHER PERSPECTIVES ON RECEIVERSHIP: I.T.B. PLC V. OKOYE IN FOCUS

Introduction Receivership remains one of the ways a secured creditor may recover debts owed to it by a company. By this, a creditor reserves the right to appoint (by deed) a receiver for the purpose of realising the assets (sell some of the assets or the company itself) of the debtor company towards the satisfaction […]

stephenazubuike
September 24, 2021
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Case Law

THE LAW DOES NOT RECOGNISE THE POSITION OF CHAIRMAN/MD/CEO FOR LIFE

U. O. O. (Nig.) Plc v. Maribe Okafor [2020] 11 NWLR (Pt. 1736) 409 The Story The facts of the above case are quite interesting. A man, the Late Nze Uche Okafor, had seven wives, and fifty-five children. Before his death, he tendered his resignation as the Chairman/Managing Director/Chief Executive of the Company to the […]

stephenazubuike
December 10, 2020
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NEW CAC: STEP BY STEP GUIDE ON HOW TO INCORPORATE A COMPANY IN NIGERIA

Legal Tips Digest Opinions

CAC MOVES THE CHEEZE: LAWYERS MUST MOVE AND NOT SULK

In the famous 1998 motivational business fable, Who Moved My Cheeze?, the concept of the inevitability of change was beautifully presented. We learnt of change at work and in life generally, and reactions to it. When change occurs, people tend to react differently. Some will either move with the times while others will remain stagnant, […]

stephenazubuike
August 5, 2020
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Case Law

[LOCUS CLASSICUS] – SUPREME COURT RULES THAT WINDING-UP ORDER MEANS AUTOMATIC DISMISSAL OF COMPANY EMPLOYEES

Winding-up of a company is the process of bringing the existence of the company to an end. The liquidator is the chief executioner who is empowered to oversee the proceedings. It is an elementary principle of Company Law that upon the making of a winding-up order and the appointment of a liquidator, the powers of […]

stephenazubuike
March 17, 2020
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62 Views

Special Feature

The Access Bank and Diamond Bank Deal: Implications for Stakeholders.

Introduction The news recently broke of the restructuring involving Access Bank Plc and Diamond Bank Plc, two leading Nigerian financial institutions. While the restructuring has been described by some as a merger, others have described it as an acquisition. This debate will be further discussed in this piece. However, suffice it to say that the successful restructuring and the emergence of Access […]

sanford-mba-sanford
April 15, 2019
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Case Law

Ecobank moved to “kill” Honeywell Flour Mills by irregular procedure but the Supreme Court waded in.

Ecobank (Nig.) Ltd v. Honeywell Flour Mills Plc [2019] 2 NWLR (Pt. 1655) 55 at 84, para. B. per Okoro, JSC: “May I state it without equivocation that application for orders of injunction affecting the rights and obligations of parties cannot be moved ex-parte in winding up proceedings. Parties must be put on notice.” The […]

stephenazubuike
April 11, 2019
0 Comments
13 Views

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