The Federal Airports Authority of Nigeria, FAAN, has reclaimed the airport land, in protracted dispute between the Authority and AIC Ltd owned by Chief Harry Akande, for the construction of a hotel complex at the Murtala Muhammed Airport Ikeja, following a judgement delivered by the Federal High Court in Lagos on June 19, 2013, in favour of FAAN.
The presiding Judge, Honourable Justice Buba, who consolidated three suits: SUIT NO FHC/L/906/2010 FAAN VS A.I.C. LTD, SUIT NO FHC/L/CS/1058/2010 A.I.C.LTD VS FAAN, AND SUIT NO FHC/L/CS/1239/2010 AIC LTD VS FAAN in his judgement, ruled that the Arbitral tribunal, which had awarded AIC Ltd the sum of $48, 124, 000, miss-conducted itself and went outside its jurisdiction in rendering the final award between the parties on June 1, 2010. He therefore declared that the final award null and void and thereby set it aside.
It will be recalled that AIC Limited had filed two suits on the matter, following the award of the arbitration, seeking first, an order to set aside the decision contained in part of the final arbitration award, asking that the same be remitted back to the arbitrator for reconsideration and secondly, that the arbitration be enforced. These two suits were set aside by Justice Buba in the said judgement made in favour of FAAN. FAAN had earlier filed an application, challenging the ruling of the arbitrator that awarded AIC Ltd the sum of over 48 million dollars.
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