comparemela.com

கலு நுவோசு News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Between Debt Recovery and Corporate Bullying

By Rasheed Adigun In the past few weeks, the management of Seplat Petroleum Development Company has been attempting to twist the narrative in its ongoing suit against Access Bank Plc, in a bid to attract public sympathy. Unfortunately, Seplat which has failed to honour its obligation appears not to be bothered about the implication of its bad behaviour on its reputation as a listed company on both the globally-respected London Stock Exchange and one of Africa’s bourse, the Nigerian Stock Exchange. It is disheartening to note that A.B.C Orjiako, the chairman of Seplat Petroleum Development Company; Seplat as a company; Cardinal Drilling Nigeria Limited, another company associated with the businessman, and Kalu Nwosu, Managing Director of Cardinal Drilling Nigeria Limited, through their sponsored articles now view the move by a commercial bank to recovery its legacy debt that had been put at $85.8 million as corporate bullying and a move for hostile takeover!.

Chronic debtor-billionaire ABC Orjiakor subterfuge repaying $150 million loan, owes FG $1 8 billion, 8 8 billion Naira in royalties

Chronic debtor-billionaire ABC Orjiakor subterfuge repaying $150 million loan, owes FG $1 8 billion, 8 8 billion Naira in royalties
naija247news.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from naija247news.com Daily Mail and Mail on Sunday newspapers.

Seplat: Access Bank Wants S Court to Reverse Appeal Court s Ruling

Davidson Iriekpen Access Bank Plc at the weekend said it had filed a notice of appeal at the Supreme Court to challenge the decision by the Lagos Division of Court of Appeal to upturn the suspension of the interim order made by a Federal High Court in Lagos sealing the corporate offices of Seplat Petroleum Development Company (SPDC) and freezing its accounts, in respect of loan obtained by Cardinal Drilling Services Limited. The loan, according to the bank, was utilised by Seplat. The bank, through its solicitors, Mr. Kunle Ogunba and Associates, approached the highest court after it expressed its dissatisfaction with the decision delivered by the Appeal Court, indicating that the learned justices of the court erred in law when they suspended the interlocutory orders made by the trial judge at the Federal High Court, thereby treating the substantive appeal at an interlocutory stage.

Nigeria: $85 8bn Debt - Court Declines Seplat s Oral Bid for Property Access

Nigeria: $85 8bn Debt - Court Declines Seplat s Oral Bid for Property Access
allafrica.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from allafrica.com Daily Mail and Mail on Sunday newspapers.

© 2025 Vimarsana

vimarsana © 2020. All Rights Reserved.