Court Prevents Firm From Accessing Lagos Property Due To N600 Million Failed Deal
The High court highlights a potential dispute over land rights or ownership between the two companies, Veritasi Homes & Properties Ltd and Patricia Technologies Ltd, concerning the sizable plot of land in the Idera Scheme area of Lagos.
The restraining order effectively bars Patricia Technologies
Ltd from selling, transferring, or conducting any form of business related to the specified land. This legal decision aims to maintain the status quo regarding the property until further judicial proceedings or resolutions are reached.
Justice E. O. Ashade ruled that the order stands pending the compliance of Veritasi Homes & Properties Ltd claimant/applicant—with the Lagos State High Court Practice Direction No. 2 of 2019 on Pre-Action Protocol.
The judge adjourned till January 13, 2024, for a report of compliance.
The order, made on November 29, 2024, was obtained by The Guardian on Thursday.
It was made following an originating motion ex parte filed by Veritasi Homes & Properties on November 13, 2024 and upon reading the applicant’s affidavit and after hearing its counsel, O.A. Alao with A.D. Edekha (Mrs).
The real estate firm informed the court that it paid Patricia Technologies Ltd N600 million as full purchase price for the land, but the tech firm – contrary to the contract – failed to transfer ownership of the land to it.
According to the applicant, the firm allegedly continued advertising the land for sale and continued selling portions of it off, even after receiving and retaining the N600 million.
Specifically, Justice Ashade held: “The defendant whether by itself, its directors, members of staff, agents, privies, assigns, associates, nominees, servants or any special taskforce, paramilitary officers or other person(s) howsoever described and called are hereby restrained from using or dealing with all that 15.021 hectares of land at Plots 6, 7, & 8 Block 4 Idera Scheme Lagos State properly delineated with Survey Plan No. LS/D/BK 416/4/6, 7 & 8 dated July 27, 2021 signed by the Surveyor General of Lagos State and covered by the Lagos State Government Certificate of Occupancy No. 87/87/2021F dated December 17, 2021, in any manner pending the applicant’s compliance with the Lagos State High Court Practice Direction No. 2 of 2019 on Pre-Action Protocol.
“The defendant whether by itself, its directors, members of staff, agents, privies or any person or agency through the defendant are hereby restrained from marketing, attempting to sell and or selling, transferring, alienating or assigning all that 15.021 hectares of land, pending the applicant’s compliance with the Lagos State High Court Practice Direction No. 2 of 2019 on Pre-Action Protocol.
“Leave is granted to the claimant to notify the public of the above orders on the defendant vide media/newspaper alerting the unsuspecting public.
“It is ordered that the claimant or counsel to the claimant shall file an undertaking that the claimant/applicant shall take steps to fully comply with Pre-Action Protocol.”
