Skye bank Plc has put machinery in motion to recover a debt
of N9,903,790,738.98 from estate management company Senkay Nigeria
limited and its Drectors Mr Mofoluso Oluyemi Ayeni and Mrs Grace Abosede
Ayeni by filing an application before a Federal high court in Lagos,
south west Nigeria, for an order entering final judgment against them.
of N9,903,790,738.98 from estate management company Senkay Nigeria
limited and its Drectors Mr Mofoluso Oluyemi Ayeni and Mrs Grace Abosede
Ayeni by filing an application before a Federal high court in Lagos,
south west Nigeria, for an order entering final judgment against them.
In an affidavit sworn to by the head projects and structure
finance unit of Skye Bank Plc Muyiwa Obilanade in support of motion for
judgment filed before the court by Professor .Gbolahan Elias, The
deponent alleged that Senkay Nigeria Limited applied for and was granted
N4.5 billion credit facilities in three tranches for the development of
a 15 storey high rising office complex known as KANTI TOWERS on 1,300
square meter of land at 35c Adetokunbo Ademola Street Victoria Island
Lagos State.
finance unit of Skye Bank Plc Muyiwa Obilanade in support of motion for
judgment filed before the court by Professor .Gbolahan Elias, The
deponent alleged that Senkay Nigeria Limited applied for and was granted
N4.5 billion credit facilities in three tranches for the development of
a 15 storey high rising office complex known as KANTI TOWERS on 1,300
square meter of land at 35c Adetokunbo Ademola Street Victoria Island
Lagos State.
The loan facilities were secured by personal guarantees of
Senkay’s promoters Mofoluso Oluyemi Ayeni and Grace Abosede Ayeni and a
deed of legal mortgage executed by Senkay Company in favour of the bank
over Kanti Towers.
Senkay’s promoters Mofoluso Oluyemi Ayeni and Grace Abosede Ayeni and a
deed of legal mortgage executed by Senkay Company in favour of the bank
over Kanti Towers.
The principal and interest at the rate of 19% per annum were repayable over a period of 84 months.
On November 23, 2016 the bank demanded on Senkay to repay
the outstanding amount which then stood at N9, 450, 273, 176. 63,but
Senkay Company has neglected,failed and refused to repay to the bank the
principal and interest due on the facilities up to date.
the outstanding amount which then stood at N9, 450, 273, 176. 63,but
Senkay Company has neglected,failed and refused to repay to the bank the
principal and interest due on the facilities up to date.
The bank and Senkay had tried together to sell Kanti Towers
so that the proceeds of the sale will be used to settle the facilities,
but their effort have not yielded positive result.
so that the proceeds of the sale will be used to settle the facilities,
but their effort have not yielded positive result.
Despite negotiation, which the bank conditionally accepted
the sum of N8billion in full and final payment of the total and standing
indebtedness, Senkay and its promoters are in breach of their repayment
obligations both under the facilities and the agreement having failed
to pay either the compromise sum or the full sum.
the sum of N8billion in full and final payment of the total and standing
indebtedness, Senkay and its promoters are in breach of their repayment
obligations both under the facilities and the agreement having failed
to pay either the compromise sum or the full sum.
Obilanade contended that the company and its promoters have
no defence to the counter claim of the bank consequently the bank is
urging the court for an order entering final judgment in favour of skye
bank Plc and against Senkay,Mofoluso Oluyemi Ayeni and Grace Abosede
Ayeni in the sum of N9,203,790,738,28 being the amount due and payable
on the various facilities the bank granted to the company and its
promoters.
no defence to the counter claim of the bank consequently the bank is
urging the court for an order entering final judgment in favour of skye
bank Plc and against Senkay,Mofoluso Oluyemi Ayeni and Grace Abosede
Ayeni in the sum of N9,203,790,738,28 being the amount due and payable
on the various facilities the bank granted to the company and its
promoters.
Interest on the said sum at the rate of 21% per annum from march 7, 2017 until entire debt is liquidated.
Any delay in entering final judgement against the company and its
promoters will occasion grave injustice to the bank as the money owed
the bank by the company and its promoters are depositors funds which the
bank is obligated to pay as and when due to its depositors.
promoters will occasion grave injustice to the bank as the money owed
the bank by the company and its promoters are depositors funds which the
bank is obligated to pay as and when due to its depositors.
Senkay Nigerian limited and its promoters had instituted
legal actions against Skye Bank Plc, Corporate affairs commision, a
Lagos Lawyer Oluwakemi Balogun SAN who has been appointed as a Receiver
for the purpose of realizing the security and, Registrar of Title Lagos
State. All as defendants
legal actions against Skye Bank Plc, Corporate affairs commision, a
Lagos Lawyer Oluwakemi Balogun SAN who has been appointed as a Receiver
for the purpose of realizing the security and, Registrar of Title Lagos
State. All as defendants
The plaintiffs alleged that, as copiously stated having regards
to the nature and peculiar terms of the credit facility granted to
Senkay the bank has no right to recall the credit facility granted to
the company or demand for the repayment of same until after 84months (7
years ) commencing from 13th February2013.
It was based on the foregoing agreement that there were never
demands from the bank to the Plaintiffs at any time to repay the said
credit facility, until the time the bank attempted to sell the property
is surreptitiously or covertly without the consent of the Plaintiffs.
to the nature and peculiar terms of the credit facility granted to
Senkay the bank has no right to recall the credit facility granted to
the company or demand for the repayment of same until after 84months (7
years ) commencing from 13th February2013.
It was based on the foregoing agreement that there were never
demands from the bank to the Plaintiffs at any time to repay the said
credit facility, until the time the bank attempted to sell the property
is surreptitiously or covertly without the consent of the Plaintiffs.
In other words, the bank’s claim that the Plaintiffs have
failed to repay the amount stated despite several demands is spurious
and frivolous. The said credit facility claimed by the bank was not due
and payable at the time the bank filed its application for final
judgement and even the counter claim in this suit.
Consequently the company and its promoters urged the court to
dismiss the bank’s application because the said application is not only
premature but frivolous and constitutes a gross abuse of court
process.
failed to repay the amount stated despite several demands is spurious
and frivolous. The said credit facility claimed by the bank was not due
and payable at the time the bank filed its application for final
judgement and even the counter claim in this suit.
Consequently the company and its promoters urged the court to
dismiss the bank’s application because the said application is not only
premature but frivolous and constitutes a gross abuse of court
process.
Meanwhile, the presiding judge Professor George Azuka Obiozor
has adjourned till 23rd of October, 2018.for further hearing.
has adjourned till 23rd of October, 2018.for further hearing.
