Honeywell appeals freezing of accounts by Ecobank

Honeywell Flour Mills Plc has appealed against partial freezing of its accounts by the Federal High Court in Lagos following an application by Ecobank Nigeria Limited.

The court had, following an ex-parte application by the bank’s lawyer, Mr. Kunle Ogunba (SAN), restrained chairman of Honeywell Group, Dr. Oba Otukedo, the company’s directors and subsidiaries from withdrawing from any bank or financial institution.

But Honeywell, through its lawyer, Chief Wole Olanipekun (SAN), sought to discharge the order, contending that it was an abuse of court process.

Ruling, Justice Mohammed Yunusa had held that the company could withdraw up to N60million in a month pending when the suit is heard and determined.

Justice Yunusa said he was inclined to vary the orders to enable Honeywell Group meet its financial obligations by withdrawing N15million only per week.

Dissatisfied with the ruling, Honeywell appealed, insisting that it wants full access to its funds.

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