Court nullifies ownership transfer

NATIONAL Court judge Justice Collin Makail yesterday nullified the transfer of ownership title of the First Heritage Centre (FHC) building and 9,306,311 shares of Namo’aporo Investment Ltd (NIL) after it found that both transfers were conducted fraudulently by Mark Sakai.
Justice Makail ordered that meetings and resolutions passed by Sakai as the chairman of the management committee of Namo’aporo Landowner Association (NLA) on July 18, 2016 and Sept 23 and 24 of 2016 were illegal and nullified .all the transactions made during the meetings.
He further directed the registrar of companies to cancel the transfer of 9,306,311 shares and registrar of titles to cancel the transfer of ownership title of FHC building, to be restored to NLA.
Justice Makail told the court that what Sakai did also constituted a flagrant breach of trust and abuse of power.
“He must not be allowed to unjustly enrich himself from such flagrant breaches and abuse of power to the detriment of the members of the 117 member ILG (incorporated landowner groups) of NLA.”
The matter emanated out of a controversial election of management committee of NLA representing customary landowners from Kutubu PDL 02 OIL and LNG project area in Southern Highlands.