Ifeanyi Uba is locked in a trademark dispute — fighting primarily for who gets to use the name “Capital Oil”.
Justice Idris Mohammed of a federal high court sitting in Lagos has fixed April 11 to hear a suit challenging use of the registered name ‘Capital Oil’ by Chief Ifeanyi Uba and his company Capital Oil and Gas Limited.
Also, sued along with Uba and his company is the Corporate Affairs commission (CAC).
Directors of a registered company, Capital Oil Company have in a suit filed by their lawyer, Chioma Okwuanyi, prayed the court for an order that continuous use of the registered name “Capital Oil” and Gas industry Limited is an infringement on their rights and amounts to passing off.
The plaintiffs are also asking the court for an order directing Ifeanyi Uba and his company to pay to them N1 billion as damages for passing off and the unlawful use and continuous use as part of its name.
The plaintiffs claimed that it deals in petroleum products and became aware of the existence of Capital Oil and Gas industries limited owned by Uba, when correspondences meant for the company were delivered to its office.
Consequently, the plaintiffs notified Corporate Affairs Commission of the alleged error in registering Capital Oil and Gas industries limited and that CAC thereafter directed Uba to change the name of his company within six weeks, but the defendant refused to do so.
However, when the controversy between the two companies became intolerable, the plaintiffs sued the defendant to court.
The plaintiffs added that the suit was settled by a consent judgment, whereby Capital Oil and Gas industries paid N100million to the plaintiffs to remove Capital Oil from its name however the money was refunded when it was discovered that the board of Directors of Capital Oil Company was not carried along in the purported settlement which the company accepted.
Thereafter Capital Oil and Gas industries sought the order of the court to compel the plaintiff to enforce the said consent judgment, but Justice Okechukwu Okeke after review of the facts of the case absolved the plaintiff of any breach of the consent judgment in the sense that since Uba accepted the money refunded by the plaintiffs.
The plaintiff added that neither Uba nor his company, (Capital Oil and Gas industries) appealed against the judgment.
Thereafter, the defendant agreed for the sum of N230million as settlement, but the defendant refused to make any payment.
The plaintiffs added that sometimes in 2013, they received several calls from their clients demanding to know how the company had been so much engrossed in huge indebtedness that led to the takeover of the management of the company by Asset Management Corporation of Nigeria.
The plaintiffs added that in a letter to AMCON, it explains the lingering issues between the plaintiff and the defendant company but AMCON did not reply.
Consequently, the plaintiff is now praying for an order directing Corporate Affair Commission to cancel the Certificate of registration issued to Ifeanyi Uba and his company (Capital Oil and Gas industries Limited).
They are also seeking for an order directing the defendants to pay to the plaintiff the sum N1 million as the cost of this legal action.
The presiding Judge Idris Mohammed has adjourned the case till 11th of April,2016 for hearing.