N1.37billion Debt: Court Bars Duport Midstream, Platform Capital Companies its MD from Accessing Funds in 24 banks
Written By Dedeigbo Ayodeji Samson
Posted By Town Crier News Nigeria
Published By Fitness Network Communications
A Federal High Court, sitting in Lagos south west Nigeria has restrained two companies, Duport Midstream Company Limited, Platform Capital Investment Partners Limited and their Managing Director, Akintoye Akindele from accessing N1,379,400,918 billion, or its equivalent in any currency in 24 banks,listed before the court pending the hearing and determination of a motion on notice filed by Union Bank Plc.
The presiding Judge, Akintayo Aluko made the order following an application filed and argued on behalf Union bank Plc by a Lagos lawyer Barrister, Temilolu Adamolekun
,Union bank Plc had alleged that the defendants were indebted to it to the tune of N1, 379, 400, 918 billion, as of June 30, 2023 while interest continues to accrue under the terms of the various facilities granted by it to the first defendant company for several purposes as captured on the various offer letters.”
After the submission of. Mr. Adamolekun ,Justice Aluko said: “It is hereby ordered as follows: “That an interim order of Mareva Injunction restraining the Defendants from dealing with any of the monies standing to their credit in all of their accounts, records or howsoever held with the 24 banks and also their monies standing to their credit in custody of the Plaintiff Uniion bank PLC up to the tune of N1,379,400,918 billion, or its equivalence in any foreign currency pending the hearing and determination of the motion on notice is hereby granted.”
The court further restrained the banks from releasing to the defendants any monies, funds or any other instrument belonging to the Defendants, to the tune of N1,379,400,918 billion, or its equivalence in any foreign currency that may be or found in their custody.
The court also directed the banks “to disclose on oath whatever sum of money that may be in their custody belonging to the defendants for further direction of the Court .
Thereafter,Justice Aluko adjourned the matter to September 13, 2023, for the hearing of the substansive suit.