Fortune News | Oct 26,2019
Many people who do not have detailed information about the legal procedures of the country would assume that a civil legal case is concluded once a court makes a judgment. However, it is not.
If someone once won a civil legal case and was specified as the winner of the civil litigation, it does not mean the case is concluded. And a judgment creditor will not be delivered to the property or the money which the court ruled in the litigant's favour.
Instead, the judgment creditor is required to follow one more step in a bid to see the judgment of the court implemented. The judgment creditor has to open another file at one of the judgment execution courts, to settle and conclude the case once and for all.
Once the judgment creditor files a case, the execution court issues a warrant to the judgment debtor to defend the implementation of the judgment if the judgment debtor does not agree with the proceeding of the case.
The judgment debtor would appeal to the directorate, explaining why the execution of the ruling should not proceed. The courts would analyse the case from both sides, and then they will pass a verdict on the case.
The next action that the court will take is verifying the properties of the judgment debtor and value the properties with the help of district and weredaland management offices. After that, the court will auction the properties off and allocate the money to both parties, accordingly.
The Federal Courts Judgment Execution Directorate, under the Supreme Court, is one of the major courts that handle the execution of civil cases. And Fortune gathered the top five properties that grabbed the highest offer during the Directorate's auctions.
LIBYA CHANCERY AUCTION
The Libya Chancery, located in Nefas Silk Laphto District, was put up for auction after the Libya Embassy failed to settle a 28.8 million Br court order from NHK Construction Plc. The two parties had a court battle after the Embassy failed to pay the construction firm for its services in constructing the Chancery.
Hadeed Trading plc, a company that is mainly engaged in supplying construction and building materials, bought the property for 205 million Br, bidding with 24 other interested individuals and businesses.
The auction was held on June 28, 2019. The value Hadeed Trading paid for the Chancery is the highest recorded price for a property sold this year at the Directorate.
KALITY ANIMAL FEED ENTERPRISE
The Enterprise was put on auction following court litigation between Awash International Bank and Akrim Metena, former owner of the Enterprise. The auction had attracted seven bidders, and Alber Trading Plc bought it with the highest price of 160 million Br.
The Directorate auctioned off the plant after the court ruled in favour of the Bank, since Akrim defaulted on servicing the 31 million Br debt it borrowed from Awash.
The animal feed manufacturer is located in Aqaqi Qality District and lies on 28,669Sqm of land. The property was put on auction with an initial price of 41.6 million Br but was able to fetch four-fold higher than the floor price.
A RESIDENTIAL UNIT
The case began when Michel Deneqe sued his four children in a dispute that arose out of succession. The litigation that spurred multiple court cases ended in favour of Michael.
The property that lies on 1,216Sqm of land in Nifas Silk District was then put on auction with an initial price of 3.1 million Br on February 9, 2019. However, with 30 bidders competing, Asrat Tadesse won by offering the highest value of 56 million Br.
THREE HEAVY CONSTRUCTION VEHICLES
This was a labour issue that was instigated by 25 former employees of Tidhar Excavation & Earthmoving Limited, who appealed to the company to pay them compensation for unlawful termination of their employment contacts.
A screener and two crushers that belonged to Tidhar were put up for auction to settle the claims on May 16, 2019. And the properties were sold to Gabbi Trade & Industry Plc for 46 million Br.
However, the execution of the judgment was put on hold by another court order, since an additional judgment debtor that Tidhar owed money to showed up. Tidhar owed a 39-million-Br debt to the Commercial bank of Ethiopia, while the Ministry of Revenues also brought a 472-million-Br claim in unpaid taxes. The case is still pending.
A RESIDENTIAL HOUSE
This case was brought to the court after a dispute that arose out of succession between Tigna Adugna and Yeshi Bekele. The court that tried their case ruled for the division of property between the litigating parties in accordance with their succession right claims.
The disputed property is located in Bole District and rests on 550Sqm of land. The auction was held on July 18, 2019, with an initial price of one million Birr. After bidding with 30 bidders, Eskinder Demeke was lucky enough to buy the house with the highest offer of 22.2 million Br.
PUBLISHED ON Sep 08,2019 [ VOL 20 , NO 1011]
Fortune News | Oct 26,2019
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