Court of Appeal Allows First Bank Appeal in Case Against GHL

Citing Interest of Justice, Appeal Court Asks Chief Registrar to Sell and Escrow Crude Belonging to GHL, Conoil/NNPCL in FPSO Tamara Tokini - Thepodiummedia

The Appeal Court sitting in Abuja has appointed the Chief Registrar of the Court of Appeal, in liaison with the Admiralty Marshal to take charge, possession and to secure any cargo of crude oil on board FPSO Tamara Tokoni against expropriation, waste, dissipation and or fraudulent disposition by any of the parties (FBN & GHL) pending the hearing and determination of a suit before the trial court and or court of arbitration in the case between th…

FirstBank wins appeal as Court set aside High Court's ruling on oil diversion case with GHL - Worldstage

WorldStage– The Court of Appeal has set aside a High Court ruling in the case between First Bank and General Hydrocarbons Ltd (GHL). First Bank had alleged fraudulent diversion of proceeds of sale from an oil cargo which it said GHL had pledged as security for a loan. The high court had ruled said the matter in contention was not a maritime claim but a case of debt recovery. First Bank proceeded to file an appeal against the ruling. In its rulin…

Court of Appeal Rules in Favor of First Bank, Orders Sale of $64m Crude on Obaigbena’s Cargo Ship — Akelicious

The Court of Appeal has overturned a previous ruling of the Federal High Court and delivered judgment in favor of First Bank of Nigeria in its long-running dispute with General Hydrocarbons Limited (GHL), a company owned by media mogul Nduka Obaigbena. In its ruling, the appellate court ordered the immediate sale of crude oil cargo valued at $64 million onboard the FPSO Tamara Tokoni. The court held that GHL fraudulently diverted proceeds from e…

Court of Appeal allows First Bank appeal in case against GHL

The Court of Appeal has allowed an appeal filed by First Bank of Nigeria, setting aside an earlier decision of the Federal High Court in Port Harcourt in its case against General Hydrocarbons Limited (GHL), a company linked to media entrepreneur Nduka Obiagbena. Sources with knowledge of the matter told Nairametrics that the appellate court […] The post Court of Appeal allows First Bank appeal in case against GHL appeared first on Nairametrics.