Ikeja Magistrate Court has taken possession of Planet One Hotel for breach of contract.
Speaking to reporters on the development, Toddler Investment lawyer, Mr. Augustine Ezenwankwo, said the property was leased to Planet One Entertainment but defaulted in terms contract.
He said: “Toddler Investment went to court and got judgment to take over the property and that is what we doing at the premises. But we discovered that most of the assets had been vandalized.
“Again, the recover manager allowed the place to be looted. You can see how bad the place is and even reduced its quality.”
“We have written a petition to the police for investigation. They should fish out those who actually looted the assets. The dispute concerning the property has been on for three years. The receiver manager did not take the inventory of the place, but merely send the staff away and shut down the place.”
A director of Toddler Investment, Mr. Jimmy Odiamehi said the agreement with Planet one was done some years back, noting that the agreement lasted till 2016.
“I have come to take possession my own land which of course the court had given back to us. That is exactly why we are here. I am grateful to God that I have taken over my asset and justice had been done.”