The Supreme Court decisions today has confirmed the judgment of the Court of Appeal in Lagos in the latest judgement of supreme court, which nullified the takeover of the landed property of Suru Worldwide Ventures Nigeria Limited by the Asset Management Corporation of Nigeria, AMCON. According to Justice Emmanuel Agim, in his judgment, he dismissed the appeal brought by AMCON and affirmed the lower court’s decision to halt the company’s takeover and ordered a new hearing at the High Court.

“I find no merit in this appeal. The judgment of the Supreme Court ruling is hereby affirmed”, Agim declared.

The re-appraising court had in a lead judgment by Equity Ugochukwu Ogakwu, held that the disappointment of AMCON to join Suru Overall Endeavors Nigeria Restricted as a litigant in its suit under the steady gaze of the Government High Court delivered the procedures prompting the takeover request a nullity.

The court likewise requested that the matter be gotten back to the Government High Court for a crisp hearing.

A Government High Court in Lagos had requested the takeover of the organization’s property by AMCON for not paying the credit got from the dead Maritime Bank.

AMCON brought implored the court to arrange security organizations to the table for it insurance to empower it to practice its possessory freedoms as a lawful mortgagee under the Deeds of Legitimate Home loan, over Suru Overall Endeavors Nigeria Restricted’s landed properties.

However, Suru Overall Endeavors Nigeria Restricted pursued against the judgment in light of the fact that it was denied a fair hearing since it was not joined as a respondent, NAN reports.