A former Military Administrator of Bayelsa State, Lt. Col Paul Obi (Rtd) and three other Directors and Dream World Leisures Ltd have settled a matter over shareholding out of court.
The settlement with other shareholders was part of the move to pacify all parties in the case.
The settlement which was reached among the shareholders was later entered as a consent judgment dated February 13 2023 in Suit No: FHC/L/CS/29/2021 between Wale Mesioye, Lt. Col Paul Obi (Rtd), Felix Oyakhomoh, Raymond Wilcox 5 Others on one part and UFC, Wemtab and Jude Atoh on the other part; wherein parties reached an amicable settlement and have accordingly resolved all differences in peace as Co-Investors in the Company Dreamworld Leisures Ltd.
Also, from documents made available, the court case in I.D /17030C/2021 between the Federal Republic of Nigeria vs Felix Oyakhomoh, Wale Mesioye, Lt. Col Paul Obi (Rtd) and Raymond Wilcox has been struck out as parties resolved and adopted reconciliation measures and Alternative Disputes Resolution.
As part of the terms of agreement, the parties agreed that all allegations labelled against Wale Mesioye, Lt. Col Paul Edor Obi (Rtd), Felix Oyakhomoh, Raymond Wilcox and Jude Atoh before the Economic and Financial Crime Commission (EFCC) were not tenable, and therefore, were false, untrue and not a reflection of the reality of the situation at hand then.
To that effect, the parties have subsequently withdrawn all the court cases and petitions in the spirit of the amicable settlement of all issues/ matters amongst the Co-Investors in Dreamworld Leisures Limited.
The company’s Directors/ Shareholders have since gone back as a family and have moved on with the process of winding down the business as the issues involved were internal disagreement and not fraud as was reported by the media.
ENDS***
<p>... Shares Crisis: Ex-MILAD, Firm Settle Out-of-Court first appeared on Elanza News.</p>
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