A Federal High Court in Abuja has ordered the Corporate Affairs Commission (CAC) to register Julius Berger Construction Company as the sole shareholder of Primetech Design and Engineering Limited following three years of a legal battle.
Justice Obiora Egwuatu issued the order on Tuesday in a judgement on a suit jointly instituted against CAC by Julius Berger and Primetech Design and Engineering Company.
The judge declared as ultra vires, illegal, unlawful and unconstitutional the refusal of CAC to admit Julius Berger as the sole shareholder of the Abuja company.
Justice Egwuatu said that the sections of the Companies and Allied Matters Act (CAMA) relied on by CAC to refuse the request for sole ownership had already been repealed and therefore were not binding on any organisation in the country.
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He, therefore, ordered CAC to approve and accept the filing, the shares transfer instruments pursuant to which Julius Berger became the sole shareholder of Primetech.
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