Tag Archives: Ikeja Hotels

Goodie Ibru resigns as chairman of Ikeja Hotels

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Goodie Ibru has tendered his letter of resignation as chairman of Ikeja Hotels plc, weeks after a court ruling validated his position.

Ibru, in a statement, said he chose to resign in the overall interest of the company and his family.

He said his decision was based on the need to get Ikeja Hotels to perform optimally.

The performance of the hotel, he said, had been hampered by several lawsuits filed by shareholders in the tussle for control of the company.

Ibru said the decision of Justice Kafarati of the federal high court, Abuja, confirming him as the authentic chairman vindicates his struggle for corporate governance in the company and provides right timing for him to retire as founding chairman after 32 years.

He urged the younger generation of Ibrus to work with other shareholders to continue to carry on the torch of excellence for which Ikeja Hotels has been known for.

He said the Ibru family had gone through a tough phase in the recent past and as the only surviving son of the first generation of Ibrus, he is more committed to keeping the family united.

Ibru founded Ikeja Hotels Plc in 1975. He opened its flagship property, the Lagos Sheraton Hotel and Towers, in 1985.

In 1992, the company acquired the Tourist Company of Nigeria Plc, the holding company of the Federal Palace Hotel and Casino.

 

Source: The Cable

Court declares Goodie Ibru as authentic chairman of Ikeja Hotels.

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A federal high court sitting in Abuja has declared Goodie Ibru as the authentic chairman of Ikeja Hotels plc.

Ikeja Hotels is the owner of Sheraton Hotel, Ikeja and the Abuja Sheraton Hotel and Towers. Ikeja Hotels also has substantial interest in the Federal Palace Hotel, Victoria Island.

In his judgment, Abdul Kafarati, a judge, faulted the removal of Ibru as chairman of the company.

On January 6, 2015, the extra ordinary meeting (EGM) of the hotel removed Ibru and reconstituted the board.

But Kafarati said the action was “unlawful, null and void and of no legal consequence”.

His judgment was in response to an originating summons of April 24, 2015 filed by three shareholders, Isaac Adalemo, Kes Connestone International Ltd, and Braimoh Adesina.

The suit was filed against ten defendants, Ikeja Hotels, IHL Services, Ibru, Corporate Affairs Commission, Security and Exchange Commission, Rasheed Olaoluwa, Olumide Braithwaite, Tunde Sarumi, the inspector-general of police and Diamond Bank plc.

Counter affidavits were filed by various parties, and arguments heard.

In his judgment, Kafarati held: “I have considered all the processes filed by the parties in this case and from the said processes the issue for determination are:

“Whether a meeting of a public company held in contravention of the provisions of sec. 218 (3) 218(1), 220(1) and 221 of the Companies and Allied Matters Act is unlawful, null and void and without any legal consequence and whether advertising of notice of meetings in National dailies without service of personal notice suffices as notice to members of a public company under the companies and allied Matters Act,

“Whether a meeting help pursuant to such advertised notice and resolutions made at such meeting is unlawful, null and void and of no legal consequence… On the whole I find merit in the plaintiffs’ originating summons and therefore all the reliefs are granted.”

In the main, the implication of the judgment is that the board of Ikeja Hotels Plc remains as it was constituted before the EGM.

This is the second ruling in recent months that would favour Ibru.

In October 2016, the same court sitting in Lagos presided by M. B. Idris, a judge, had dismissed the suit/FHC/L/CS/1956/2014 filed by Alurum & 2 others against Ikeja Hotels Plc, IHS Services Ltd and Union Registrars Ltd.