The Stallion Group has filed an appeal against the October 16 Lagos Federal High Court against it, in a case between it and the United Bank of Africa (UBA) & Ords.
In a statement on its behalf by Abdulsalam Gaffar Olatokunbo, the company said after reviewing the judgement with its legal advisers, the Group considers that there are strong grounds for appellate review and is determined to pursue its rights through the courts.
“A Notice of Appeal has been filed at the Court of Appeal and stay of execution of the judgement pending the hearing and determination of the appeal,” the statement added.
Stallion Group promised to pursue the appeal vigorously but assured that it would continue to respect the judicial process.
The company expressed confidence in the appellate courts and in their ability to consider the issues raised on appeal.
“The Group’s operations continue. We ask our employees, customers, business partners and other stakeholders to rely on verified information and not on speculation or sensational reports about a matter that is now before the appellate court,” the company appealed
The judgement arose from a commercial dispute initiated by UBA Plc in 2023, but Stallion Group said it disagreed with the decision, hence the appeal.