In a bid to seek redress in a breach of contract business, a
Swedish company FSA FORTEX AB has dragged Heritage bank Plc before the Federal High
Court, Lagos, claiming the sum of
N156,232,011.
Joined as
co-defendant in the ensuing legal hostility
is a Nigerian company OFOLIX INTERNATIONAL LIMITED.
According to a
statement of claim accompanied by witness statement on oath of Executive
Director of the Swedish company Mr. Jorgen Ohlander filed before the court by a
Lagos lawyer, Barrister Victor Ibharalu, the deponent alleged that his company
manufactured and supplied its products dual purpose writing/printing papers to
Ofolix International limited in Nigeria.
Before the dual
papers were supplied to the company, the company provided three separate
letters of credits which were open with Heritage bank Plc.
Mr. Ohlander
averred further that the said letter of credit opened by the Nigerian company
were meant to be solely financed by the company for the purpose of the Swedish
company’s products.
Over the years
and following several meetings with the defendants, the Nigerian company Ofolix
International made some payments separately and at different times on the
letter of credit but for reasons unknown to the plaintiff Heritage bank has
refused to fully meet its obligations owed the Swedish company.
Meanwhile, as
time went on the Nigerian company equally made some direct cash remittances to
the Swedish company leaving an outstanding sum of N156,232,011.which has
remained unpaid till date, despite the fact that, in a letter written to the
Nigerian company by Heritage bank, the bank acknowledged the full discharge of
the Nigerian company obligations under the said letter of credit.
The Swedish
Director alleged further that his company
has made several demands and entreaties on Heritage bank to fulfil its
own obligations owed to it but Heritage bank has refused and neglected to do so
till date.
After endless
waiting and obvious frustration, his company instructed his solicitors V. E.
Ibharalu and company to demand and received the said outstanding sum of
N156,232,011 on the letter of credit.
The plaintiff’
Solicitors wrote a letter to Heritage bank to demand and receive the said
outstanding sum which the bank refused and neglected to response to till date.
Mr. Ohlander
states that the defendants are possibly exploiting the plaintiff ‘s helpless
Position in the matter since both the goods and the money are in the possession
of the defendants
The plaintiff
therefore claims against the defendants jointly and severally as follows :
The sum of N156,232,011 being the outstanding balance on the letters of credit.
Interest on the said sum at the rate of 21% per annum until final determination of the suit and thereafter at the of 6%per annum until the final liquidation of the debt.
