SEPLAT Energy has announced that it was served with ex parte interim court orders which were granted by the Federal High Court sitting in Lagos on August 8.
The orders related to a bankruptcy court action instituted by Access Bank Plc against Dr A.B.C Orjiako, for the recovery of an outstanding loan amount that forms the judgment delivered by the High Court of the United Kingdom and registered in Nigeria as a judgment of the Federal High Court.
The interim orders restrain Seplat Energy and other companies/financial institutions from dealing with the shares, investments, bonds, assets and funds belonging to Dr. Orjiako (whether held by him directly or via proxy), which are in the custody of Seplat or any financial institution, pending the hearing and final determination of Access Bank’s motion for the appointment of a special manager.
Seplat Energy is not a judgment debtor under the UK judgment sought to be enforced. There are no claims against the company in the bankruptcy proceedings and the orders have no impact on the operations of Seplat Energy.
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