Access Bank Plc has secured an interim order to freeze the accounts and assets, including shares of the co-founder of Seplat Energy Plc, Ambrose BC Orjiako.
The lender filed a bankruptcy suit against the businessman in the United Kingdom and obtained a judgment from the High Court of the UK and registered it in Nigeria as a judgment of the Federal High Court.
However, in a notice yesterday to the Nigeria Exchange (NGX) signed by Director Legal/Company Secretary, Mrs Edith Onwuchekwa, clarified that Seplat as a company is not a judgment debtor.
She said: “Seplat Energy announces that on August 8, 2023, the company was served with ex parte interim court orders, which were granted by the Federal High Court sitting in Lagos, Nigeria, in 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.”
…the company was served with ex parte interim court orders, which were granted by the Federal High Court sitting in Lagos, Nigeria, in a bankruptcy court action instituted by Access Bank Plc against Dr A.B.C Orjiako, for the recovery of an outstanding loan
