Honeywell vs Ecobank: Appeal Court to Hear Suit February 10

The Lagos Division of the Court of Appeal sitting in Igbosere, on Wednesday set aside February 10, 2016, as the day to entertain an appeal initiated by Honeywell group, seeking to vacate an order limiting its financial transaction. It would be recalled that Justice Mohammed Yunusa of the Federal High Court sitting in Ikoyi, Lagos, had on December 14, 2015, granted an interim order in a suit between Ecobank plc and Honeywell group. The legal war is a sequel to an alleged N3. 5 billion unpaid loan facility granted by Ecobank to Honeywell. Justice Yunusa specifically issued an interim order, limiting Honeywell to N15 million weekly withdrawal from the company’s account.