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Capital Oil & Gas: Court orders Access Bank, Coscharis to discontinue London case

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JUSTICE Okon Abang of a Federal High Court in Lagos, on Monday, expressed displeasure at the actions of Access Bank and Coscharis Motors in securing an order from a London Court despite an existing order of the Nigerian court which barred them from interfering with the properties and business interests of Capital Oil and Gas Limited.

The judge while delivering a ruling on the issue, described the action of the bank and Coscharis as one that has “ridiculed the Nigerian Judiciary.”

Justice Abang also gave the defendants (Access and Coscharis) 48 hours within which to file a notice of discontinuance of all processes before the London Court.

The defendants were also restrained from enforcing the order made by the London Court against the assets and business interests of Capital Oil and Gas Limited.

Justice Abang added that the plaintiffs (Capital Oil and Gas and Ifeanyi Ubah) are now at liberty to seek the leave of court to commence civil contempt proceedings against Access Bank and its principal officers.

The judge had restrained Access Bank and Cosharis from tampering with the assets of the oil company pending the conclusion of a case filed by the Managing Director of Capital Oil and Gas Limited, Patrick Ifeanyi Uba, against them.

Justice Abang had also restrained the respondents from doing anything against the business interests of Uba and Capital Oil.

In his arguments over the issue, Uba’s counsel, Wole Olanipekun(SAN) had accused the respondents of violating the express orders of the court.

According to him,  Access Bank and Cosharis Motors Limited are”undermining Nigeria’s judiciary by obtaining an order from a London Court which violated an existing order of the Federal High Court in Lagos”.

Olanipekun alleged that after the orders were made by the Lagos court, the respondents approached a London court, and thereafter secured an order that violated the existing orders of the Federal High Court in Nigeria.

The silk while describing the action of Access Bank as ‘banking lawlessness’ and one which is condemnable tendered the proceedings and the order of the London Court as exhibit in the case;

He thereafter urged Justice Abang to restrain the respondents from enforcing the order of the London Court.

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