RULING

I have examined the application and the affidavit in support and in opposition with all the attachments. I have listened to both counsel for and in opposition to the application. I have given consideration to the Order of the Court appointing the Respondents as Receivers/Managers. Regard has also been given to the Order 27 of C.I. 47. It is my considered view that, the respondents cannot purport to use the issue of tax and the debonding of the warehouse as a basis to undermine the lawful Orders of this Court. Respondents should note that their power to deal with these properties lies in the order appointing them as Receivers/Managers.

In that regard, Respondents should be fully aware that a violation of any part of this order constitutes contempt of the court. It is therefore my opinion that, having completed the management of the properties of the 4^th Defendant, the Respondents are mandated to file their final accounts, verified with an affidavit. In respect of the other Defendants, the Respondents should further note that the order appointing them mandated them to file quarterly accounts which are to be verified by an affidavit. I find it rather embarrassing for respondents, with the kind of pedigree they have, to inform the court that they forgot to file an affidavit verifying the facts in the accounts that they filed.

Accordingly, the Respondents are hereby ordered to file all quarterly outstanding accounts from the date of their appointment to date. These accounts should be verified. It is further ordered that the Respondents file final accounts in respect of 4^th Defendant verified by an affidavit within 14 days. The quarterly accounts should also be filed within 14 days.

Case is adjourned to 16^th May, 2018 at 10:00am.