Court Upholds Appointment of Receiver/manager in Debt Recovery Suit Against Stallion Group

Court upholds appointment of receiver/manager in debt recovery suit against Stallion Group

In a judgment delivered by Justice Daniel Osiagor on Friday, the court granted all the reliefs sought by the bank, affirmed its jurisdiction to hear the case, and upheld the appointment of the receiver/manager, Romeo Ese, as valid.

Court backs UBA in N156bn Stallion debt recovery case

  By Francis Ajuonuma United Bank for Africa (UBA) Plc has secured a major legal victory in its N156 billion debt recovery proceedings against Stallion Group and the Vaswani brothers, with the Federal High Court, Ikoyi, Lagos, resolving all issues in favour of the bank. The judgment, delivered on Friday by Justice Daniel Osiagor of …

UBA wins court backing to enforce Stallion Group debt recovery

United Bank for Africa (UBA) Plc has secured a favourable judgment in its debt recovery dispute with Stallion Group, strengthening the lender’s legal position to enforce mortgage security, take possession of mortgaged property and pursue outstanding obligations against the borrowers and their guarantors. The Federal High Court sitting in Ikoyi, Lagos, presided over by Justice […] The post UBA wins court backing to enforce Stallion Group debt rec…

“The Defendants Did Not Dispute Their Indebtedness, Only The Amount” — Court Upholds UBA’s Receiver/Manager In ₦156bn Stallion Debt Case

The Federal High Court in Lagos has upheld the appointment of a receiver/manager by United Bank for Africa Plc to recover debts allegedly owed by Stallion Group, affirming the bank’s right to take possession of properties pledged as security for the facilities. Justice Daniel Osiagor, in a judgment delivered on Friday, held that the defendants […]

Vaswani Brothers And Stallion Group Lose As UBA Wins Landmark N156bn Debt Recovery Judgment

The Court also dismissed objections raised by the 12th Defendant, holding that it had failed to establish any proprietary rights over the mortgaged property.