The Lagos State High Court in Ikeja has ordered Shoprite Checkers Limited, operator of Shoprite outlets in Nigeria, to pay A.I.C. Limited $10m for breach of contract.

The court, in a judgment by Justice Lateef Lawal-Akapo, ordered Shoprite Checkers Limited and Retail Supermarkets Nigeria Limited, which was joined as second defendant in the suit, to pay the judgment sum with an annual interest of 10 per cent from the day he delivered the judgment till the sum is finally liquidated.

The court also awarded an additional N1m against the defendants in favour of the claimant as the cost of pursuing the lawsuit which commenced in 2012.

The judge said he found that the 1st defendant breached an agreement it had with the claimant when it “incorporated a company, established the outlet (Shoprite) in 2005 and was running the same without recourse to the claimant.”

“The claimant had incorporated a company, A.I.C. -Shoprite Nigeria Ltd., in the hope of a joint venture for the establishment and running of a Shoprite outlet (in Nigeria).


http://anstalk.com/shoprite-operator-in-nigeria-ordered-to-pay-10m-for-breach-of-contract/

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