- BPE files motion to move proceedings for arbitration
Following the Federal High Court Order compelling all parties in the suit filed by CEC Africa Investments Limited and KANN Utility Company Limited to maintain the status quo on the matter of the Abuja Electricity Distribution Company (AEDC), the Bureau of Public Enterprises (BPE), has challenged the jurisdiction of a Federal High Court (FHC), Abuja to hear a suit over the recent takeover of AEDC.
In its application to the FHC, the Counsel to BPE, A.U. Mustapha, SAN filed a motion seeking a stay of proceedings and referring the suit to arbitration. Mustapha noted that the application to transfer the matter for arbitration was in line with the provisions of the Share Sale Agreement (SSA).
Counsel to the plaintiffs, Etigwe Uwa, SAN, also informed the Court of the defendants non-compliance with the order by the FHC to maintain the status quo.
”We have filed an application of non-compliance with the status quo order,” Uwa said.
Justice Ekwo subsequently adjourned the matter until Feb. 16, 2022.