Trial commences in suit against Institute on October 5
Justice E.O. Williams-Dawodu of the Lagos High Court (TBS) has adjourned for commencement of trial, in the N128 million suit filed against the Institute of Directors Nigeria (IoD) over alleged non-payment of debt to October 5.
The claimants in the suit marked LD/2524/CMW/2016 are Promaco Associates Ltd, Interstates Architects Ltd, Morgan Omonitan & Abe Ltd, Kunle Ogunbayo & Associates Ltd and Consol Associates Ltd.
The claimants through their counsel, Chief Gbola Akinola had filed the action claiming that the defendant appointed them severally as Project Managers, Consultant Architects, Structural Engineers, Mechanical Engineers and Quantity Surveyors respectively for the design and development of its new Secretariat and office Building.
The claimants are relying their claims on documents titled Reimbursable Claims and Pre Contract Meetings.
Justice Serifat Sonaike, who presided over the matter earlier, had given parties opportunity to explore the possibility of settling out of court, but parties failed to settle the matter amicably.
The claimants aver that pursuant to the terms of their respective appointments the 2nd claimant commenced and completed the drawing of the new secretariat office complex, likewise the 3rd and 4th claimants, prepared detailed structural and service drawings based on the agreed architectural design.
The claimants also maintain that the 5th claimant, upon completion of the 2nd, 3rd and 4th claimants’ drawings, proceeded to make a detailed elemental cost estimates for the development of the new secretariat and office building of the defendant.
Consequently, the claimants are seeking an order for the defendants to make immediate payment of the sum of N127, 575, 322.01 being their duly earned entitlement in the various and numerous services rendered at the Pre contract Stage of the development of IoD’s new Secretariat and office building.
It further seeks the sum of N1, 000, 000 being the cost of the suit, interest at the rate of 21 percent per month on the outstanding sum due and owing from October 4, 2016 till judgment is delivered, interest on the adjudged sum at the rate of 10 percent per annum from the date of judgment till judgment debt is satisfied.
The claimants stress that the intervention of the Court is needed to protect their interests and ensure that the defendants pay the claimants their entitlement in the businesses they transacted.