Court Adjourns ABC Ojiakor’s Bankruptcy Suit

By Aisha Balogun

Justice Nicholas Oweibo of the Federal High Court sitting in Lagos Thursday adjourned till September 26, to hear all pending applications in a bankruptcy suit filed by Access Bank Plc against businessman, Dr. Ambrosie “ABC” Orjiakor.

Access Bank Plc had filed the suit numbered FHC/L/BK/08/2023, owing to the inability of Dr. ABC Orjiakor, to pay the sum of $101 Million plus US Dollars he allegedly owed the bank.

Listed as respondents in the suit are: Seplat Energy Plc; Helko Nigeria Limited
Neimeth International Pharmaceuticals Plc; Salvic Petroleum Resources Limited; Zebbra Energy Limited; Ordrec Group Limited; Helko Marine Services Limited; Berwick Nigeria Limited; Abbeycourt Petroleum Company Limited; Abbeycourt Energy Services Limited; Abbeycourt Company Limited and Pursley Resources Limited.

Justice Oweibo fixed the date after counsel to the parties in the suit told the court that they had filed their various processes to the suit.

The judge had on July 26, while granting an ex-parte motion filed by Access Bank’s lawyer, Mr. Kunle Ogunba (SAN), frozen Orjiako’s bank accounts and other assets over the alleged indebtedness to the bank.

He ruled, among others, that the order subsists pending the determination of the bank’s motion on notice for the appointment of a special manager.

The court also restrained Orjiako and his agents or any other person under his authority or any other authority from operating, withdrawing from or otherwise tampering and/or dealing with his funds in any Bank and/or Financial institution in Nigeria

The court further forbade Orjiako’s former employers and his other investment vehicles from having anything to do with him financially until his indebtedness is cleared.

At the resumed hearing of the matter Thursday, Ogunba informed the court that the Creditor/applicant had enforced the orders of the court against all the properties listed.

He stated that on the face of the order, there are properties apart from shares, adding that at the point of the execution, it was discovered that the debtor had no relations with some of the properties.

He therefore urged the court to discharge the properties C, D, and F, that the debtor did not have relations with from the suit.

But Orjiako’s lawyer, O. Kalu, told the court that his client was ousted from his residence and office, which he said was against the order of the court.

Ogunba opposed his submission.

In the same vein, Mr. Babajide Koku (SAN), lawyer to the 2nd to 12th Respondents told the court that he had filed an application of urgency to vacate the interim order, and that the properties listed as A and B in the suit, did not belong to the debtor.

Providus Bank, one of the banks ordered to show cause, told the court through its lawyer, that one of the properties referred to by Koku was used by Orjiakor as security to obtain a loan of N2 billion.

Following a series of applications in the suit, the court adjourned the matter till September 26, for hearing of all pending applications.