News Formal

Alleged N20.7bn Debt: Court Freezes Oil Company, Businessman’s Accounts, Assets

  • 📰 channelstv
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 63%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

Other respondents in the suit are Ajibola Bankole Adetutu, Garba Mohammed and Lolag-Sons Nigeria Company.

The judge further granted an order restraining the defendants from selling, transferring, assigning and dealing with the properties used as collateral to secure the loan.

The judge granted the order freezing the assets following an exparte application filed by Union Bank through its lawyer, Adetunji Adedoyin-Adeniyi of AAA Chambers.

The applicant also alleged that the first and second defendants have failed to comply with the Memorandum of Settlement dated March 6, 2018, which has increased their indebtedness that they have not attempted to liquidate.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 7. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Pollution: Reps to probe oil companies for alleged violation of PIAThe lawmakers noted that many oil wells in oil-producing communities are depleted and are no longer commercially viable, resulting in the sale of old upstream assets by international and local oil and gas companies.
Source: PremiumTimesng - 🏆 3. / 78 Read more »