Featured Gas Oil

Court suspends order against SEPLAT.

…….. Reopen Corporate Headquarters

Seplat announces that the Court of Appeal sitting in Lagos has today suspended the Order of Interlocutory Injunctions made by the Lagos Federal High Court that led to the sealing of Seplat’s Corporate Head Office situated in a building located at 16A Temple Road, Ikoyi, Lagos, a building which is not owned by Seplat. The Court suspended the Order, upholding Seplat’s application.

On 2nd December 2020, the building in which Seplat’s Corporate Head Office is located was sealed in connection with a court case concerning an outstanding loan to Access Bank Plc by Cardinal Drilling Services Limited (“Cardinal Drilling”), a third-party providing drilling services to Seplat. Seplat is not a party to the loan agreement, security agreement or guarantees made by or on behalf of Cardinal Drilling to Access Bank Plc., and did not provide any commitments or guarantees in respect of Cardinal Drilling’s loan obligations to Access Bank Plc.

Today’s decision by the Court of Appeal demonstrates the strength of Seplat’s case. Seplat will continue to vigorously defend itself against its unmerited inclusion in the court action by Access Bank Plc.

Related posts

NOA sensitizes Badagry community on proper voting procedure

Editor

16 ships arrive in Lagos ports with petrol, other products

Editor

Buhari leaves Makkah for UK on 2-week private visit

By Kunle SHONUGA

NDLEA decries nonpayment of N4bn staff entitlement

Meletus  EZE 

Acting DSS boss bows to presidency, recalls redeployed officers

Editor

Stakeholders laud institute for improving ethics in banking

thebusine
Social Media Auto Publish Powered By : XYZScripts.com