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Honeywell Group on Monday indicated that it will approach the Supreme Court to challenge the judgment of the Court of Appeal against it in a N3.5 billion debt controversy. The counsel to Honeywell Group, Mr Olabode Olanipekun (SAN), gave the indication shortly after the appellate court reversed a lower court’s decision in favour of Honeywell Group. The Court of Appeal, in a judgment delivered Monday, had reversed the judgment of the Federal High Court, Lagos delivered in May 2019, where the lower court held that operating companies of Honeywell Group were not in any way indebted to Ecobank. Honeywell had in 2015 filed a suit against Ecobank, asking the court to determine whether or not its three subsidiaries, Anchorage Leisures Ltd, Honeywell Flour Mills Plc and Siloam Global Limited, were still indebted to Ecobank after having reached an agreement to pay the sum of N3.5 billion as full and final settlement of the companies’ indebtedness.

Oluwakemi owasanoyeOlasumbo abolajiBanker committeeCentral bankHoneywell group onAnchorage leisures ltdSupreme courtHoneywell groupSiloam globalHoneywell flour mills plcHigh courtFederal high courtSiloam global limitedChief finance officerவங்கியாளர் குழுமைய வங்கி