Wednesday, November 6, 2024
Wednesday, November 6, 2024

Land Scam: Court Orders Advert Of Winding-Up Petition Against Real Estate Firm, Brickwall Global Invest. Ltd

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Land Scam: Court Orders Advert Of Winding-Up Petition Against Real Estate Firm, Brickwall Global Invest. Ltd

A Lagos Federal High Court, presided by Justice Ayokunle O. Faji, has granted a petition seeking to advertise a winding-up of a real estate firm, Brickwall Global Investment Limited, filed by it’s five aggrieved land subscribers (who have now being joined by three others) be advertised.

Justice Faji also restrained the real estate firm from dissipating it’s accounts until determination of the petition filed against it by the subscribers.

Also, the judge equally restrained the Directors, staffer, management, employees, officers, agents, privies, servants, or any persons from alienating, disposing of, dealing tampering, or interfering with the assets and properties of the Brickwall Global Investment Limited including tangible and intangible assets, movable and immovable assets.

Justice Faji further directed that any creditor of the Brickwall Global Investment Limited desirous of supporting or opposing the winding up of the company to appear at the time of hearing of the matter either in person or by their counsel and adjourned hearing till October 12, 2021.

The aggrieved subscribers; Zephaniah Nwokeji, Mr. Chukwuebuka Ezeocha, (for himself and Mrs. Ezeocha), Mr. Chuka Nwadialo (for himself and Mrs. Elsie Nwadialo) and two others, had in their petition dated June 29, 2020, approached the Court over the failure of Brickwall Global Investment Limited to provide them land after 5 years of making payments.

The petitioners had in suit number FHC/L/CP/778/2020 alleged that Brickwall Global Investment Limited defrauded them of N5.78m on the pretense that it would grant possession of a piece of land at its May Flower Estate in Ikorodu, Lagos State to each of them.

Opposing the petition, Brickwall Global Investment limited urged the court to dismiss the application adding that it is not indebted to the Petitioners.

The Real Estate firm stated that it has always been willing to deliver the land subject matter of the petition to the petitioners but the petitioners failed to take possession.

However, in its judgement, Justice Faji, agreed with the petitioners that the Real Estate firm is insolvent and is unable to meets up it’s obligations with its subscribers and found that the respondent failed to demonstrate that it is able to meet up its obligations as provided in the Company and Allied Matters.

Meanwhile, the Lagos State Estate Regulatory Authority has directed the State Criminal Investigation Department (SCID) Panti, Yaba, Lagos, to investigate the complicity or otherwise of the company, its directors and senior officials on the allegation of using the company to defraud residents after several complaints to the Lagos State Government through their office.

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