Seplat Energy Plc in a notice to the Nigerian Exchange has clarified the recent Interim Court Orders to Seplat in the bankruptcy action by Access Bank Plc against Dr. A.B.C Orjiako.
In a statement signed by the Director Legal/Company Secretary of the Company, Mrs. Edith Onwuchekwa, the Company stated thus:
“Seplat Energy announces that on 8th August 2023, the Company was served with ex parte Interim Court Orders which were granted by the Federal High Court sitting in Lagos, Nigeria in a bankruptcy court action instituted by Access Bank Plc against Dr. A.B.C Orjiako, for the recovery of an outstanding loan amount that forms the judgment delivered by the High Court of the United Kingdom and registered in Nigeria as a judgment of the Federal High Court.
The Interim Orders restrain Seplat Energy and other companies / financial institutions from dealing with the shares, investments, bonds, assets and funds belonging to Dr. Orjiako (whether held by him directly or via proxy), which are in the custody of Seplat or any financial institution, pending the hearing and final determination of Access Bank’s motion for the appointment of a Special Manager.
Seplat Energy is not a judgment debtor under the UK judgment sought to be enforced. There are no claims against the Company in the bankruptcy proceedings, and the Orders have no impact on the operations of Seplat Energy.”