Wednesday, 25 January 2017

Centrespread Advertising Seeks Skye Bank’s Committal for Contempt of Court

Centrespread Advertising has asked Justice A. M. Lawal of the Federal High Court, Lagos to commit Skye Bank plc for contempt of court following the wrongful inclusion of its name on a list of delinquent borrowers published recently by Skye Bank in some national dailies.

According to the frontline advertising agency, Skye Bank’s latest action was in flagrant disobedience of a subsisting pronouncement of the Court made on 4th July 2016 in suit No: LD/2362GCMW/16 in which Centrespread is challenging Skye Bank’s claim of its continued indebtedness.

While addressing the court at the resumed hearing of the case on Tuesday, Counsel to Centrespread, Barrister Ademola Adewale, drew the attention of Honourable Justice Lawal to the Skye Bank’s List of Delinquent Borrowers as published in some national dailies last week. He submitted that the inclusion of Centrespread Advertising on the list amounted to contempt of the honourable court which had directed both parties to maintain the status quo ante, pending the determination of the suit in which Centrespread is disputing Skye Bank’s claim of its continued indebtedness.

The Centrespread Counsel therefore asked the honourable court to declare Skye Bank Nigeria Plc’s wrongful publication of his client’s name as one of their delinquent offenders as a violation of the injunction by the honourable Court of law, and as an attempt to taint its reputable image in the eyes of the public.

In the Statement of Claim filed by Centrespread in suit No: LD/2362GCMW/16 before the honourable court, the Centrespread counsel had submitted that while it is true that a transaction was carried out between Centrespread Advertising Limited and Skye Bank Plc in 2007, his client had made good on the terms of the agreement to pay back the principal borrowed loan which, according to the terms of agreement, would expire in the year 2020.

He further averred that a few years ago, when Centrespread felt that it was being subjected to exorbitant charges by Skye Bank, it employed the services of forensic financial analysts who confirmed its concerns as true.

Centrespread is therefore praying the Court to, among other reliefs, declare Skye Bank’s claim that it still owes the total amount declared in its record as null and void since, according to it, a substantial part of the figure being touted as standing against its name has been discovered to be illegal charges.

Alternatively, the Claimant is also praying the honourable court to compel Skye Bank to release the claimant’s loan account statement and for the loan account statement to be analyzed by a forensic analyst to be appointed jointly by both parties for the determination of the Claimant’s actual indebtedness to the defendant.

Further hearing in the matter was adjourned till March 16th of this year.

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