A Federal High Court sitting in Lagos, Nigeria’s commercial capital, thatrules Thursday it will proceed with contempt proceedings against Alter-Semper and its bankers in the dispute between Mrs Bukola George, the founder and former Chief Executive Officer of HealthPlus Limited and some directors of the Limitedcompany.HealthPlus
The ruling was issued by Justice Oluremi Oguntoyinbo at the FHC room 9 on Thursday.
HealthPlus Limited, a pharmaceutical retailing firm, has been involved in crisis since the majority of investor terminated Mrs George’s appointment as CEO of the company following allegations of misuse of invested funds.
She and her husband had sold their majority shares in HealthPlus to the new investors Alta-Semper and took a management contract that could be terminated by the majority of the directors.
Mrs George had filed petitions with the Nigeria Police Force, Nigeria Security and Civil Defence Corps (NSCDC), the House of Representatives and Pharmacist Council of Nigeria (PCN) to intervene in the matter which is in court. The House however dismissed any cause for hearing saying the case was before a court.
In it’s swift reaction, HealthPlus Limited in a statement yesterday assured stakeholders that the ruling was not a judgement on the main issues in contention but just a procedural one.
The Statement, which was signed by directors Afsane Jetha and Zachary Fond said: “we would like to assure all stakeholders and partners that the ruling is only a procedural ruling which did not in any way affect the substance of the dispute submitted by Mrs. George before the court which has to do with Mrs. George’s right as a minority shareholder in Healthplus Limited.”
The statement added that “we will continue to cooperate with all relevant authorities and remain committed to supporting management as it actively rebuilds the business for the benefit of all Nigerians”
Alta-Semper had invested $10 million dollars in HealthPlus a few years ago to provide a lifeline to the struggling company and expand its operations.
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few years after George signed a management contract, she was terminated as CEO for corporate governance missteps, which are currently being investigated by law enforcement officers.