FCT High Court dismisses FHT Mega Express suit against Parallex Bank, awards N500,000 against company in favour of Bank

The Federal Capital Territory High Court has dismissed successful its entirety the suit filed by the logistics firm, FHT Mega Express Limited against Parallex Bank Limited wherein the institution claimed N7.1billion against the Bank. In the suit, the Court upheld Parallex Bank’s preliminary objection that the lawsuit amounted to a gross maltreatment of tribunal process.

It would beryllium recalled that the logistic institution had obtained an ex parte bid against the Bank to frost the Bank’s funds up to the sum of N7.1billion with the Central Bank of Nigeria. Parallex Bank challenged this ex parte bid by filing a Notice of Preliminary Objection, urging the Court to onslaught retired and/or disregard the suit connected the crushed that it constitutes an maltreatment of tribunal process, peculiarly successful airy of the subsisting suit whichthe Bank had earlier instituted against this institution earlier the High Court of Lagos State to retrieve this company’s outstanding indebtedness to Parallex Bank.

In its ruling delivered connected the 20th time of April 2026, the Court held that FHT’s suit filed against the Bank was so abusive successful quality and upheld the arguments canvassed by the Bank. Consequently, the suit was dismissed successful its entirety. The Court further aw...