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- After months of prolonged tribunal hearings, a national precocious tribunal has dismissed the First Bank of Nigeria suit against General Hydrocarbons
- The tribunal ruling stated that First Bank of Nigeria had breached tribunal orders and abused tribunal processes successful its action
- The tribunal besides ruled implicit the ex parte orders First Bank secured connected the 9th of January, 2025
Legit.ng writer Ruth Okwumbu-Imafidon has implicit a decennary of acquisition successful concern reporting crossed integer and mainstream media.
A Federal High Court, sitting successful Port Harcourt, has dismissed the First Bank of Nigeria (FBN) suit against General Hydrocarbons Limited (GHL).
Justice E.A. Obile, who sat implicit the case, dismissed the suit connected the grounds of jurisdiction, upholding the arguments of the GHL counsel, Dr. Biodun Layonu, that the tribunal lacked the requisite jurisdiction to perceive the case.
GHL had earlier raised a announcement of preliminary objection, contesting the court’s jurisdiction to entertain the case.
Source: UGC
In its ruling, Justice Obile described FBN’s lawsuit arsenic an maltreatment of tribunal process and a breach of the orders issued by Justice Allagoa connected December 12, 2024, successful Suit No. FHC/L/CS/1953/2024.
Court cites breach of orders
Justice Obile held successful his ruling that First Bank conceded successful paragraphs 18 and 19 of its counter-affidavit opposing the defendants’ announcement of preliminary objection that the bid made by Justice Allagoa restrained it from enforcing immoderate receivables arising from the installation statement betwixt the parties.
The tribunal besides ruled that FBN’s effort to separate this suit from Suit No. FHC/L/CS/1953/2024 was not tenable, arsenic each consequent statement betwixt the parties was based connected the archetypal legally enforceable Memorandum of Understanding (MoU) betwixt GHL and FBN, which the plaintiff repeatedly breached.
He added that by filing the suit, FBN sought to bash precisely what it had been prohibited from doing, making it a lawsuit of maltreatment of tribunal process, the SUN reports.
On these grounds, the suit was dismissed, portion GHL’s statement that the ex parte orders issued connected January 9, 2025, had lapsed by cognition of instrumentality was upheld.
First Bank reacts to claims of abusing tribunal process
Recall that First Bank of Nigeria Limited (FirstBank) described General Hydrocarbons Limited's (GHL) allegation that it had exploited the ineligible strategy to beryllium incorrect.
Source: Getty Images
In a statement, the slope claimed to beryllium the sole enactment to taxable a important assertion against GHL to the Federal High Court successful Lagos, adding that its allegations and the quality GHL filed for arbitration and sought preservation orders implicit are not the same.
First Bank had obtained a Mareva bid blocking GHL's accounts owed to a purported $225 cardinal debt.
This bid affected each GHL's slope accounts, and those of its directors, Nduka Obaigbena, Efe Damilola Obaigbena, and Olabisi Eka Obaigbena, some with First Bank and different banks.
First Bank refuses to unfreeze GHL accounts
In related news, First Bank of Nigeria Plc has fixed reasons wherefore it cannot unfreeze General Hydrocarbons Limited (GHL) accounts, successful enactment with the Federal High Court Order.
The bid lifted the ex parte Mareva bid placed connected the assets of General Hydrocarbons Limited, its shareholders, and directors, mandating the banks to unfreeze the accounts.
The slope noted successful its connection that it had already appealed the Federal High Court judgement lifting the Mareva order.
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Source: Legit.ng
