“An order is made nullifying the deed of assignment purportedly executed by Knight Rook Limited in favour of UACN Property Development Company Plc, covering 2.4321 hectares of land within Igbokushu village, Eti-Osa local government area, Lagos within the Victory Park Estate.
“An order of perpetual injunction is hereby made restraining the 1st defendant, its servants, agents and/or privies, successors-in-title and assigns, including anyone acting for or on their behalf from further encroaching or trespassing on the parcel of land, measuring approximately 50.349 hectares situate at Igbokushu village, behind Okunnu Housing Estate, Lekki Peninsula Scheme 11, Government Estate, Eti-Osa area of Lagos known as Victory Park Estate and covered by certificate of occupancy dated December 6, 2002 and registered as No 28 at page 28 in volume 2003c in the land registry.”
The judge also dismissed the counter-claim by the 2nd defendant affirming that it validly sold the property to the 1st defendant. “The counterclaim of the 2nd defendant/counter claimant is contradictory, inconsistent and not cogent and lack any evidential value and it is hereby dismissed in its entirety,” he held.
The case of the claimants was that the 2nd defendant is the owner of the land at Victory Park Estate.
The claimants obtained load facility from four banks and as security and in lieu of execution of legal mortgage, claimants transferred its shares in 2nd defendant to the four banks with agreement to transfer back the shares upon liquidation of the loan.
and then