Supreme Court dismisses Ecobank’s appeals against Honeywell

Honeywell defeated Ecobank at the Supreme Court on Friday when the apex court dismissed all appeals brought before it by Ecobank in the ongoing dispute between the bank and Honeywell.
In a unanimous decision by the learned judges of the Supreme Court, it ruled that Ecobank’s applications lacked merit.
In delivering judgment, the justices of the Supreme Court reprimanded Ecobank’s lawyers for wasting the Court’s time by filing appeals, which it described as frivolous, particularly in light of the myriad of critical matters before the apex court.
The Supreme Court also warned Ecobank’s lawyers against filing such applications in the future, awarding costs totaling N2.5 million against it.
Prior to the Supreme Court rulings, Ecobank had previously suffered defeat in its dispute with Honeywell at the Court of Appeal when the appellate court also ruled against it.
In a unanimous decision delivered by the Court of Appeal on March 30, 2016, the appellate court discharged the exparte injunctive/ asset freezing orders obtained by Ecobank against Honeywell.
The Court of Appeal also affirmed the jurisdiction of the Federal High Court, Lagos to hear the suit filed by Honeywell against Ecobank, whilst ordering accelerated hearing by the trial court.
It was these decisions by the Court of Appeal that Ecobank challenged at the Supreme Court.