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Justice Olugboyega Ogunfowora of the Ogun State High Court, Ifo, has ordered an accelerated hearing in a suit over an alleged breach of contract arising from the proposed sale of the assets of Dolphin Steels Limited, currently in receivership. The suit, marked HCF/146/2026, was instituted by Prodigy Finance Limited against the receiver-manager of Dolphin Steels Limited, Mr Olugbenga Ajala, and Zenith Bank Plc.
Delivering his ruling, Justice Ogunfowora declined the claimant’s application for an interlocutory injunction but directed that the substantive suit be heard on an accelerated basis.
The judge observed that although the claimant pleaded that the principal contractual sum under the disputed agreement had been refunded, its claims for damages arising from the alleged breach of contract remained issues to be determined at trial.
In the interest of justice, the court abridged the time for the defendants to file their statements of defence to 21 days each, while the claimant was given seven days to respond, if necessary.
The matter was adjourned until September 7, 2026, for the commencement of a pre-trial conference.
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The dispute centres on an agreement for the sale of Dolphin Steels Limited’s assets located at Papalanto, Ifo Local Government Area of Ogun State.
Prodigy Finance Limited is seeking, among other reliefs, an order of specific performance of the agreement, alleging that the defendants breached the contract.
At an earlier hearing on July 23, counsel to the claimant, Oluwatosin Olumakin, urged the court to restrain the defendants from dealing with or disposing of the assets pending the determination of the substantive suit.
The application was moved after the defendants failed to appear in court. Having confirmed that hearing notices were duly served and that the defendants were out of time to respond, Justice Ogunfowora reserved ruling until August 3.
In his ruling, however, the court held that rather than grant the interim relief sought, the case should proceed expeditiously so that the substantive issues, particularly the claim for damages arising from the alleged breach of contract, could be determined on their merits.
