Treadway:
Wow! I read everything, and i'm just WOWed!

I am not someone who trusts, and this right here is a stark reminder that I'm on track with that decision and way of life.

If you don't/didn't learn some things from this story, mehn you can't be helped.

Thanks for sharing OP

Jah bless

Cooldowntemper:


It was properly documented

Greed always finds a way

For the sake of anonymity and to protect some protagonists, I have experienced similar in the west and I agree that greed always finds away. In my opinion, it appears as though Babawande had a preconceived plan to cut out Kenny and used this by creating another vehicle using the knowledge, intellectual property and technical information that he had benefited from. An independent experienced adjudicator should be employed by both parties and his decision binding. It is much cheaper than engaging the services of Lawyers. My two cents.

coolitempa:


For the sake of anonymity and to protect some protagonists, I have experienced similar in the west and I agree that greed always finds away. In my opinion, it appears as though Babawande had a preconceived plan to cut out Kenny and used this by creating another vehicle using the knowledge, intellectual property and technical information that he had benefited from. An independent experienced adjudicator should be employed by both parties and his decision binding. It is much cheaper than engaging the services of Lawyers. My two cents.

This happened also in an oil servicing firm in PH

Where a Yoruba man cut off the Hausa and ibo men that started the company with him

I read everything.

Its just a sad sad event.

I hope they can find a way to settle it but i imagine the chances are slim to none.

The part that hit me was the CAC equity in Nigeria. Also the letter from the dad. The restraining order, infact everything!

Kenny should just be careful as he goes about his business.

What greed cannot do.... Just look at these 2 families!

Front page material

It's an eye opener to everyone going into business with southwest brothers.

Cooldowntemper:


This happened also in an oil servicing firm in PH

Where a Yoruba man cut off the Hausa and ibo men that started the company with him

Now you are tribalising a matter between two yoruba men.

Cooldowntemper:


This happened also in an oil servicing firm in PH

Where a Yoruba man cut off the Hausa and ibo men that started the company with him

The Awosika guy should take the money offer and leave the airline for the thief.

This is not the only great opportunity to make an impact in Nigeria. It will only be a matter of time before greed comes up again to totally destroy what is left of the airline.

coolitempa:


Now you are tribalising a matter between two yoruba men.

No it really happened star hull gauge is the name

Prinzton:

At this point, Kenny may seize to exist after this meeting via waylaying or poisoning.

None yet.

He'll go for just fingerprint...
He's a trickster, he knows you'll be careful.

What Wande did is very bad.

He's not that smart and he will likely end up being duped.

Also, there was no evidence of discussion of shareholding amongst the two. Kenny shouldn't have assumed that he will have or hold the larger shareholding in the group company registered in Maryland, USA.

I'm sure Wande would have seen the US company incorporation docs and thought that in due time, Kenny will be cut out of the picture. Still, that doesn't justify what Wande did.

kelechi50:
Front page material

It's an eye opener to everyone going into business with southwest brothers.

Adjusted. 👌

Airlines aren't even profitable businesses if we are being honest.

I read everything from the first sentence to the last one.
Green Africa Airways is an excellent airline.
I have fly with the airline more than 20 times.

For this type of investment to be a product of treacherous deal is very shameful.
Litigation may solve this problem, but it will take much longer than expected.

My advice to the two people at the centre of this story is to find a way to make correction.
Wande Afolabi should know that no one can deny his own consciousness.
Kenny Awosika should know that no one can deny his own consciousness.
The two of them should forget about the gains of the investment and put their individual consciousness into the forefront.
All efforts to make peace must be allowed.
God help us

What have i just read? Awoo ndi accommodating landlords can not accommodate a fellow ronu? Scam & witch craft runs in their blood.... Imagine that one use ladder go UK, less than one year, he do drop the ladder!!

No be so Tinubu do Afenifere & AD?

Cooldowntemper:
But somehow, it still gets even worse.

The relationship between the Afolabi and Awosika families had at this point, completely broken down to the point where Wande’s father, Francis Afolabi wrote the following stinker to Kenny’s father, even offering to repay the school fees paid for Taiwo and Kehinde all the way back in the year 2000

Oh Shit!
I'm pained seeing this.

Two close families now turning their backs against each other?
Please is there a way these logjam could still be resolved?

Reading through the letter pierced my heart greatly

I agree that the friendship is broken beyond redemption. Since Wande the traitor only filed a fundamental rights suit against Kenny, I would advise he files a comprehensive action for unjust enrichment against Wande, either in Nigeria or in the United Kingdom. Preferably it should be in Nigeria since the deception started when Wande registered a new company in Nigeria and lied to Kenny that it was for the purpose of circumventing regulatory measures against foreign investment in Nigeria's airline industry.
He should also consider bringing the 73 seed investors on board.
This degree of psychotic criminality must not go unpunished.

Cooldowntemper:


There is nothing to settle when greed clouds the heart of man

Lesson: from the very first day you decide to go into business with anyone, whether friend, family member or an outsider, get a lawyer - one that practises commercial law.

As things stand, the likely outcome will still be financial settlement.

It is an established practice (at least in the UK), that courts are reluctant to force feuding shareholders into a common ownership, particularly where the relationship has broken down irretrievably as in this case.

I can't say with all certainty what the attitude of a Nigerian court would be in such situation, but I would assume a favourable judgement to the claimant would also be in the form of liquidated damages based on a certain percentage of the value of the company.

I notice there appears not to be any prior discussion between the parties about distribution of shareholding. That said, in one particular email, Mr Afolabi made a poignant assertion that he would be the majority shareholder (i.e he would hold more than 50%). Mr Awosika appeared to accept that statement- at least there appears to be no email response from Mr Awosika challenging Mr Afolabi's claim to majority shareholding.

So, that is likely to be a starting point for any court in assessing what shareholding to accord Mr Awosika. Giving that several others appear to have contributed towards funding the company in those early stages, it would then be at the discretion of the court to determine what level to set any award to Mr Awosika. Mr Afolabi 's lawyers will be asking the court to set it as low as possible, somewhere around 2.5% or less of the company 's shareholding, while Mr Awosika 's lawyers will want it as high as possible, may be around 30%.

If I were to guess, I would think a Nigerian court would set compensation somewhere around 10% of the shareholding - to be paid in liquidated form ie monetised. A UK court, may be less than 5%.

I am doubtful that criminal prosecution of Mr Afolabi for obtaining under false pretense will succeed as I do not believe the elements necessary to secure conviction will be easy to prove. I am therefore not surprised that the Efcc appears to have made little progress on Mr Awosika's petition.

I see this all the time - individuals trying to outsmart each other with very messy consequences, as in this case.

Setting up a business involving even your spouse, let alone a friend or an outsider requires more than just registering a basic company with CAC.

To round up, it is highly unlikely that Mr Awosika will ever become a true shareholder of Green Africa Airways. As I said above, as with a marriage, courts are generally reluctant to force shareholders into a toxic union.

Mr Afolabi should aim to get a substantial compensation, but he would need to be pragmatic about what is a realistic compensation.

Unfortunately, the damage to age old family friendship is done, and I suspect the sense of breach of trust will remain etched in Mr Afolabi 's heart whatever the size of any eventual compensation.

That is unfortunate.

This is eye opening!

Trusts should have limits. When it comes to business partnerships, legal documentations are needed.

I pray never to have such friend like Wande. He’s a grave manipulator & greed impersonate.

iGod:
This is eye opening!

Trusts should have limits. When it comes to business partnerships, legal documentations are needed.

I pray never to have such friend like Wande. He’s a grave manipulator & greed impersonate.

This is not about prayer.

Any of your friends, relatives, and even a spouse can betray you.

That they have not done so yet is not a guarantee that they can't do so in the future.

That is why it is important to get a lawyer on your side (early) if you are getting involved in any business relationship that is important to you.

obiekunie01:
This is why i hardly sympathize with this useless scamming idiots whn they are shot dead on the street!

imagine the level of scheming!

will he die if he maintain the partnership as agreed??

most he scam the poor boy out of his investments??

Despite being there for him at all time - and he still have the mind to stab him at the back!

THIS IS ONE OF THE REASON WHY ASSASINS STILL MAKE LOADS OF MONEY!

IF I AM KENNY, I WILL SURELY WASTE HIM EVEN IF IT WILL COST ME MY LASY KOBO!


TUFIAKWA!


On a second thought, kenny should be very careful - that wande has enuf greed to fuel him to murder. . .

Honestly greed kills faster than anything. Just imagine the sweet relationship between the two families thrown away. The were both heading towards being great wealthy young men but Wande out of greed felt Kenny doesn't deserve to be greater than he is. I feel so pained unbehalf of Kenny and his family.

On the bolded, I also have same feeling. The last letter in which he (Wande) initiated a reconciliation abi settlement meeting sounds like he is prepared to use otormokpo to knack Kenny to forget about the entire issues.

kelechi50:
Front page material

It's an eye opener to everyone going into business with southwest brothers.

It has nothing to do with where you come from.

The case of Mr Maduka Choscharis and Senator Andy Ubah comes to mind.

Also cases like these abound in UK, US and other countries ' courts between people of the same race.

Lesson: if you are going into a business that you think is going to be very important to you, get a lawyer on your side very early.

That applies whether your business partner is your friend, family member, or a stranger.

No naaa.

Any greedy person can deliver this punch. Its not about South West brothers

kelechi50:
Front page material

It's an eye opener to everyone going into business with southwest brothers.

coolitempa:


Now you are tribalising a matter between two yoruba men.

You just noticed the OP is a psychopath he claims someone else is?

Bigkoko:
What have i just read? Awoo ndi accommodating landlords can not accommodate a fellow ronu? Scam & witch craft runs in their blood.... Imagine that one use ladder go UK, less than one year, he do drop the ladder!!

No be so Tinubu do Afenifere & AD?

Lalasticlala, abeg let these kids go and chill small in gaol. It's nauseating see these kind of foolish comments, on a serious topic at that.

DeLaRue:


This is not about prayer.

Any of your friends, relatives, and even a spouse can betray you.

That they have not done so yet is not a guarantee that they can't do so in the future.

That is why it is important to get a lawyer on your side (early) if you are getting involved in any business relationship that is important to you.

These are the kinds of points you want to discuss, not kids running rampage, talking nonsense.

It's a dicey one, I must agree with you. Unfortunately, everything up there was from the view point of the aggrieved - makes it a bit difficult to understand the motives of said Wande, while not excusing the misdeeds he's accused of.

It will be hard for the court to take a legal position, because it all seems more like "a crime of passion". It's all emotions running high here and there. You see the Wande's father accusing the Awosika's of their "condescending attitude" (even though this could simply be the usual maligning of the rich). Then you wonder how they came about the Kenny taking 55% stake in the original company, compared to the other guy's 45%

My point is there seems to be some missing gaps in the narration, that seem irrelevant to the narrator - ones which might have explained the motives of the accused.

Overall, it's an intriguing read, makes for some sober reflections. It's like watching the titanic - same emotions. You wish things panned out differently. But then again, it's just life been life.

DeLaRue:


This is not about prayer.

Any of your friends, relatives, and even a spouse can betray you.

That they have not done so yet is not a guarantee that they can't do so in the future.

That is why it is important to get a lawyer on your side (early) if you are getting involved in any business relationship that is important to you.

These are the kinds of points you want to discuss, not kids running rampage, talking nonsense.

It's a dicey one, I must agree with you. Unfortunately, everything up there was from the view point of the aggrieved - makes it a bit difficult to understand the motives of said Wande, while not excusing the misdeeds he's accused of.

It will be hard for the court to take a legal position, because it all seems more like "a crime of passion". It's all emotions running high here and there. You see the Wande's father accusing the Awosika's of their "condescending attitude" (even though this could simply be the usual maligning of the rich). Then you wonder how they came about the Kenny taking 55% stake in the original company, compared to the other guy's 45%

My point is there seems to be some missing gaps in the narration, that seem irrelevant to the narrator - ones which might have explained the motives of the accused.

Overall, it's an intriguing read, makes for some sober reflections. It's like watching the titanic - same emotions. You wish things panned out differently. But then again, it's just life been life.

Anny69, your thoughts?

aycorporat:


Oh Shit!
I'm pained seeing this.

Two close families now turning their backs against each other?
Please is there a way these logjam could still be resolved?

Reading through the letter pierced my heart greatly

The court knows who is the greedy on in the matter, I just hope bribery won't find a way

If anything, this incident dampens my faith in mankind.

Granted people are not the same, but I'm honestly dampened within by the outcome. How could you have seen the end from the beginning?