The National, Thursday October 31st, 2013
THE National Court has dismissed a case filed by the National Broadcasting Corporation against its former managing director over the purchase of company property.
Former managing director Joseph Ealedona argued in court that the claims by the NBC were frivolous.
Justice Jacinta Murray said Ealedona had paid for the property in accordance with a resolution made by the NBC board of directors who had the authority to make such a decision.
“I accept the defendant’s (Ealedona) submission that these proceedings are frivolous and vexatious because it is clear from the evidence before the court that Ealedona purchased the property with full knowledge and approval from the board,” Murray said.
Ealedona was managing director from 2006 to March 2010 and had purchased the property from NBC in 2009 for K50,000.
Ealedona said after the payment for K50,000, transfer documents were lodged with the Lands Department,
He said the title was formally transferred to him in September 2009 with a mortgage to the Nationwide Micro Bank being registered in November 2009.