By Samuel Itsede
Two Chinese directors have sued BN Ceramics Industry Limited and other directors, seeking a court determination on major company control based on share allocation.
Plaintiffs allege improper share allotment, violating several sections of the Companies and Allied Matters Act and altering BN Ceramics’ share structure to benefit BN Technological Services.
The Federal High Court in Abuja transferred the case to the Lokoja Division, agreeing that the matter should be heard there due to jurisdictional reasons.
Two Chinese directors, Yang Jijian and Hao Aijun, have sued BN Ceramics Industry Limited, Kogi, and other Chinese directors before a Federal High Court in Abuja for the determination of who has major control of the company in terms of shares.
The legal team of the plaintiffs joined BN Ceramics Industry Limited, Liu Yangxi, Zhang Qide, Chen Enlai, NB Ceramics, BN Technological Services, Abuja, and the Corporate Affairs Commission (CAC) (first to seventh defendants), in the suit marked FHC/ABJ/CS/ /2022.
BN Ceramics Ltd is a Chinese-owned company in Nigeria which deals with the manufacturing of ceramic and porcelain tiles for distribution to building material stakeholders across the country.
The company owns a production base with two authentic polishing automatic lines at Ajaokuta, Kogi State; two main depots; and a distribution network of about 260 distributors.
The company is also a member of the Manufacturers Association of Nigeria (MAN) and is registered with the Corporate Affairs Commission (CAC).
