Another case of corporate bullying or hostile takeover? By IREWOLE OYEBODE nationalaccordnewspaper.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from nationalaccordnewspaper.com Daily Mail and Mail on Sunday newspapers.
Access Bank and Seplat Petroleum Company Plc. have recently been enmeshed in legal tussle in the formerâs efforts to recover an outstanding U$.85.8 million loan to Cardinal Drilling Services Ltd. Olaoluwakitan Babatunde x-rays the issues, and writes that Access Bank is on a misdirected crusade
The Nigerian corporate world was taken aback when on 2nd December 2020 a team of fully armed policemen and lawyers took over and disrupted businesses and activities at the No. 16 Temple Road, Ikoyi Lagos corporate office of the Nigerian oil and gas giant, Seplat Petroleum Company Plc. The office was marked âPossession taken by receiver/manager of Access Bank in FHC/L/CS/1588/2020â. They went ahead to seal it after serving Seplat some court processes comprising an interim ex parte order secured by Access Bankâs counsel and receiver/manager, Mr. Kunle Ogunba (SAN) in respect of the suit.