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Property dispute: Developer admits failing to deliver apartments at agreed date

Summary by Daily Post Nigeria
Chief Executive Officer of Oak Homes Limited and a property developer, Mr. Olukayode Olusanya, has admitted before the Lagos State High Court, sitting at Tafa Balewa Square, that his company failed to deliver two apartment units to a client as agreed, in an ongoing N152 million property dispute. Olusanya made the admission during proceedings in Suit No: LD/4471LM/2023 he filed against a United State’s based Engineer,  Mr. Anthony Ugbebor and the…

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The civil and commercial judge Verónica Gotlieb ordered the company “Protierra SRL” to refund money and pay property damages in dollars and $1,000,000 for moral damage to a couple of young professionals who had bought 3 lots in Ricardone’s “Las Moras II” real estate development. The loteo was due to be delivered in early 2022, but this never happened. Buyers waited more than a year and ended up terminating the contract. The developer refused to …

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Daily Post Nigeria broke the news in Nigeria on Tuesday, June 24, 2025.
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