Crisis brews as, court restrains ABC Orjiako, others from firms’ accounts, assets
A Federal High Court sitting in Ikoyi, Lagos has restrained Shebah Exploration and Production Company Limited, Sheban Petroleum Development Company Limited, and Dr Ambrosie Orjiako, as well as other persons acting on their behalf, from withdrawing from the accounts of nine other defendants and 29 banks.
Justice Yellin Bogoro made the interim order on Friday while granting an ex parte Mareva application applied for by Zenith Bank Plc through its counsel, Mr Kemi Balogun (SAN), in the case of an alleged $78,426,578.64 debt.
The injunction restrained the two firms and Orjiako as well as their proxies in Nigeria, the United States of America, the United Kingdom, the United Arab Emirates, Switzerland, the European Union, and any jurisdiction worldwide, pending the hearing and determination of the bank’s motion on notice.
The fourth to ninth respondents are Seplat Petroleum Development Plc, Zebra Energy Nigeria Limited, Glencore U.K. Ltd, Abbey Court Energy Service Limited, Neimeth Pharmaceutical International Plc, and all trustees, proxies, agents, nominees, and all individuals or corporate bodies holding the assets of the third defendant, Orjiako.
The judge further restrained the fourth to ninth defendants or persons acting on their behalf from dissipating or moving out of the court’s jurisdiction any asset and other instruments in the name of the first, second, and third defendants anywhere in the world.
The order also restrained Orjiako from receiving or otherwise dissipating any dividend or profits held by anyone appointed by him and through any scheme under the custody of the fourth to ninth defendants.
The interim order of Mareva injunction further barred the first, second, and third defendants from disposing off any of their assets.
In arguing the application, Balogun said, “Pursuant to the deeds of guarantee executed by the second and third defendants, the plaintiff availed the first defendant several facilities which have now culminated in outstanding indebtedness of $78,426,578.64 as of August 31, 2021, and interest continues to accrue.
“The fourth to eighth defendants are companies in which the third defendant has substantial interest.
“In a bid to avoid the indebtedness that has arisen from the various facilities to the first defendant by the plaintiff, the defendants have started taking steps to dissipate their assets.”
After hearing Balogun’s application, Justice Bogoro held, “Leave is granted to the plaintiff to serve the originating processes and all other processes filed and to be filed in this suit on the second, sixth, and ninth defendants through DHL courier delivery company to their respective addresses.”
The judge also directed Zenith Bank to publish all the originating processes and other processes filed in two national dailies and adjourned till November 17, for a report of service. Punch
