Tuesday , March 9 2021
Home / News / Appeal Court Suspends Order against SEPLAT

Appeal Court Suspends Order against SEPLAT

Seplat announces that the Court of Appeal sitting in Lagos has today suspended the Order of Interlocutory Injunctions made by the Lagos Federal High Court that led to the sealing of Seplat’s Corporate Head Office situated in a building located at 16A Temple Road, Ikoyi, Lagos, a building which is not owned by Seplat. The Court suspended the Order, upholding Seplat’s application.

On 2nd December 2020, the building in which Seplat’s Corporate Head Office is located was sealed in connection with a court case concerning an outstanding loan to Access Bank Plc by Cardinal Drilling Services Limited (“Cardinal Drilling”), a third-party providing drilling services to Seplat. Seplat is not a party to the loan agreement, security agreement, or guarantees made by or on behalf of Cardinal Drilling to Access Bank Plc., and did not provide any commitments or guarantees regarding Cardinal Drilling’s loan obligations to Access Bank Plc.

Today’s decision by the Court of Appeal demonstrates the strength of Seplat’s case. Seplat will continue to vigorously defend itself against its unmerited inclusion in the court action by Access Bank Plc.

About Gladys Johnson

Gladys Johnson The Publisher/Editor-In-Chief Global Business Drive Phone: +13465619347 Email: gladysjohnsonmedia@gmail.com, globalbusinessdrive@gmail.com

Check Also

Fugro partners on ‘4S’ global satellite observation seafloor mapping innovation

Fugro is taking part in an EU co-funded research and innovation project to develop a …

Leave a Reply

Your email address will not be published. Required fields are marked *