A former Military Administrator of Bayelsa State, Lt. Col Paul E. Obi (Rtd), alongside other Directors and stakeholders of Dreamworld Leisures Ltd, have successfully resolved a shareholding dispute through an out-of-court settlement.
The resolution, aimed at fostering peace and cooperation among all parties, was formalised as a consent judgment on February 13, 2023, in Suit No: FHC/L/CS/29/2021 involving key stakeholders of the company.
According to available documents, a separate court matter with suit number I.D/17030C/2021 has also been concluded following the adoption of reconciliation measures and alternative dispute resolution processes.
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As part of the settlement terms, all parties agreed to withdraw existing legal actions and petitions, committing to a peaceful resolution of all outstanding matters concerning their investments in Dreamworld Leisures Ltd.
The company’s stakeholders have since moved forward, focusing on winding down the business and prioritising mutual understanding, while emphasising that the issues resolved were internal disagreements related to management and operations.
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