$85.8M DEBT: MORE TROUBLES FOR SEPLAT, AS COURT STRIKES OUT ANOTHER APPLICATION


Seplat Petroleum’s legal tussle with Access Bank has suffered a setback.

A Lagos Federal High Court, today, struck out an application filed by the oil company, Seplat Petroleum Development Company, seeking to varied an order of mareva injunction freezing its account and sealing its offices.

In striking out the application, Justice Rilwan Aikawa, who presided over the court, virtually, said the plaintiff, Access Bank Plc, through its counsel, Mr. Kunle Ogunba (SAN), has sufficiently presented to court, that its has an action against the oil company.



And that the order which was sought and granted, was to preserve res from been disposed off before the hearing and determination of the suit’s motion on notice.

Justice Aikawa had on November 23, 2020, made an order of mareva injunction against the oil company over alleged $85.5m debt, following an application filed and moved by the Access Bank Plc’s lawyer, Ogunba (SAN).

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Seplat, Cardinal Drilling Services Ltd, Mr. Orjiako Ambrosie Bryant and Kalu Nwosu are the defendants/applicants in the suit marked FHC/L/CS/588/2020.

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https://theconscienceng.com/$85-8m-debt-more-troubles-for-seplat-as-court/

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