In recent times, the offspring of wealthy Nigerians have been involved in controversies over who controls what in a multimillionaire estate of their parents, who sometimes died intestate (without a will), while the ones with a will have always been a subject of litigation. From captains of industry to politicians and legal titans, it has been a tale of power play and supremacy of who should be in charge or who is right to take the lion’s share......Read The Full Article>>.....Read The Full Article>>
The family of the late foremost industrialist the late Sir Taiwo Okeowo, have dragged themselves before the Lagos High Court presided over by Justice Aishat Opesanwo over a libel case instituted by a Lagos billionaire and property developer, Sir Oluwatumininu Okeowo, against some of his siblings.
The case has been adjourned for a hearing until May 20, 2024.
When the case came up for hearing on Monday, Justice Opesanwo informed parties that the court would not sit due to the absence of the court registrar.
Okeowo had, in suit number LD/ADR/4661/2022, dragged his siblings before the court, claiming N100m as damages over alleged libellous publication against him.
The defendants in the suit are Joe Faraday (a company belonging to his brother), Joshua Okeowo, and Tolulope Okeowo.
The claimant is asking the court for a perpetual injunction restraining the defendants from publishing libellous statements about him.
He prayed the court to compel the defendants to disclose evidence that he (claimant) forged the Lagos State Certificate of Occupancy over property known as 15A and 15B, Bayo kuku Road, Ikoyi, Lagos.
However, in their statement of defence filed by their lawyer, Kunle Adegoke SAN, the defendants denied making any unprovoked assault or orchestrated smear campaign on the claimant’s character. They neither have any malice against him.
The defendants further stated that they did not, at any time, malign or defame the claimant’s character in any manner whatsoever and that they would hold the claimant to strict proof regarding this allegation.
The defendants averred that they did not, at any time whatsoever, authored the purported internet publication titled ‘Sir Taiwo Okeowo Estate Brief’ or engaged in a campaign of calumny against the claimant concerning the alleged destruction of Santo Domingo Luxury Residences or any other matter whatsoever.
They stated that the letter dated October 5, 2022, referenced in paragraph 10 of the Statement of Claim, was written on the authorization of the second and third defendants as well as their six siblings in their capacities as shareholders and directors of Manna Real Estate Company Limited and Metal Construction (West Africa) Ltd and beneficiaries of the Estate of Late Sir Taiwo Okeowo, wherein they instructed the law firm of Fortbanc to petition the Economic and Financial Crimes Commission (EFCC) and the inspector general of police (IGP) to investigate criminal activities committed by the claimant.
They averred that the second and third defendants and their other siblings petitioned the law enforcement authorities due to the alleged fraudulent and reckless dissipation of properties from the estate of their late father, Sir Taiwo Okeowo, among other criminal actions.
Also, in their counterclaim, the defendants averred that since the death of their father, no letters of administration were granted to anyone to administer the estate of their late father, Sir Taiwo Okeowo.
They further averred that the defendant to counterclaim (Sir Olu Okeowo) was neither the administrator of their late father’s estate nor a shareholder or a director in the two companies owned by the late Sir Taiwo Okeowo.
They alleged that after the death of their late father in 2003, the defendant to counterclaim forcefully took over the control of the two companies (being Metal Construction (West Africa) Ltd and Manna Real Estate Company Ltd), including the assets of the estate of the deceased without the consent or authority of the surviving children of the deceased.
They further alleged that since the death of their father, (Sir Taiwo Okeowo), the defendant to counterclaim has been illegally managing the assets of the estate of their late father to the extent that the defendant to counterclaim dissipated most of the funds, assets and properties of their late father by converting some of the funds, assets and properties of the estate to himself and one company known as Gibralter Construction Nigeria Limited, wherein the defendant to counterclaim is a shareholder and director.
The counter-claimants stated that the defendant to counterclaim had constituted himself as a sole self-appointed administrator of their late father’s estate by allegedly denying them and their siblings’ equal shares in their deceased father’s estate.
They alleged that he refused to disclose information regarding the management of assets of the Estate estate of their late father or render an account of his administration of same.
Consequently, they prayed the court for a declaration that the counterclaimants, together with the defendant to a counterclaim, being the beneficiaries of the deceased’s estate, are jointly entitled to the distribution of the deceased’s estate assets.
They also prayed the court to declare that the counterclaimants are entitled to access information regarding the management of their late father’s estate and an order directing the defendant to counterclaim to render a proper account of his management of the estate of the late Sir Taiwo Okeowo, who died intestate, including an order appointing the Administrator-General of Lagos State to take over the management of the assets of the Estate of the Late Sir Taiwo Okeowo and distribute same in accordance with the Administration of Estates Law of Lagos State. Thisday
