Judiciary

FHC Upholds Mareva Injunction in Access Bank Case, Bank to Hold Onto SEPLAT’s Assets

by Proshare Research

In a judgement given today by Justice R.M. Aikawa of the Federal High Court (FHC) sitting in Lagos in the case between Access Bank Plc vs Seplat Petroleum Development Company and others, the FHC upheld an earlier Mareva injunction by allowing Access Bank to hold onto the assets of SEPLAT.

This was confirmed by our correspondent present at the court sitting.

Justice R.M. Aikawa said the Balance of Convenience tilts in favour of the plaintiff (Access Bank). He Granted the Mareva which means that Access Bank’s receiver-manager would be in charge of SEPLAT’s stated assets until the next ruling on pending applications which has been scheduled for January 26, 2021

Further details on the ruling to follow…

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