According to caveat emptor signed by the management of Milan Industries Ltd and their lawyers: Alade Babatunde Kasunmu of Prof A.B Kasunmu’s Chambers and Ahmed Raji SAN, they stated that the warning followed a recent Court of Appeal judgment delivered on 2nd December 2022 in appeal no. CA/CV/LAG/476/2021 between Milan Industries Limited vs Polaris Bank Ltd, AMCON & 11 PLC.
The Lagos Division of the appellate court had in the judgment set aside the sale of the property covered by Land Certificate No. Lo.6753 and Land Certificates Lo. 6560, known as Lagos Continental Hotel (formerly Intercontinental Hotel Lagos) situated at 52 Kofo Abayomi Street Victoria Island, Lagos, sold by the Asset Management Corporation of Nigeria (AMCON) to 11PLC.
