The legal tussle between multinational Oil company,
Petrocam Trading Nigeria Limited, and Union bank of Nigeria Plc has taken
a new twist as the company and its Managing Director Mr Patrick Ilo ,
have filed an application before
a Federal high court in Lagos urging the presiding Judge Rilwan Aikawa
to refer the suit filed against them by Union bank of Nigeria Plc to the
Chief Judge of the court for reassignment to another judge of the court
in the Lagos Division axis.
Petrocam Trading Nigeria Limited, and Union bank of Nigeria Plc has taken
a new twist as the company and its Managing Director Mr Patrick Ilo ,
have filed an application before
a Federal high court in Lagos urging the presiding Judge Rilwan Aikawa
to refer the suit filed against them by Union bank of Nigeria Plc to the
Chief Judge of the court for reassignment to another judge of the court
in the Lagos Division axis.
The defendants have expressed their loss of confidence in the court in determining the matter without any form of bias. Petrocam Trading Nigeria limited, its Managing Director Mr Patrick
Ilo alongside its South African counterpart, Petrocam Trading South Africa
had earlier dragged Union bank Plc before a Lagos State high court,
urging the court to direct the bank to credit or reverse the wrongful
debt on the Petrocam’s account maintained with the bank for the funding
of the letter of credit totaling the sum of N6,704,918,533.71 arising
the bank’s breach of its duty to the company.
Ilo alongside its South African counterpart, Petrocam Trading South Africa
had earlier dragged Union bank Plc before a Lagos State high court,
urging the court to direct the bank to credit or reverse the wrongful
debt on the Petrocam’s account maintained with the bank for the funding
of the letter of credit totaling the sum of N6,704,918,533.71 arising
the bank’s breach of its duty to the company.
However, while the case is still pending, Union bank filed another
case before a Federal high court in Lagos against the company and its
Managing Director claiming the sum of N10,062,643,928.72, thereafter
securing an order of the court frozen all the accounts of the company in
all commercial banks.
Meanwhile, In the accompanying affidavit verifying the petition
sworn to by Mr Patrick Ilo, and filed before the court by Barrister
Gboyega Oyewole (SAN), the deponent averred that six orders were made
against them frozen the account of Petrocam company and adjourned for
seven weeks, while effectively shutting down all their business, the
order destroyed all their good will and their business connections
case before a Federal high court in Lagos against the company and its
Managing Director claiming the sum of N10,062,643,928.72, thereafter
securing an order of the court frozen all the accounts of the company in
all commercial banks.
Meanwhile, In the accompanying affidavit verifying the petition
sworn to by Mr Patrick Ilo, and filed before the court by Barrister
Gboyega Oyewole (SAN), the deponent averred that six orders were made
against them frozen the account of Petrocam company and adjourned for
seven weeks, while effectively shutting down all their business, the
order destroyed all their good will and their business connections
Mr Ilo averred further that, in spite of the potential harm the
order may cause, no undertaken was given as to damages in the event that
the orders ought to have been made.
order may cause, no undertaken was given as to damages in the event that
the orders ought to have been made.
Consequently, application was filed to discharge the order and
follow with a letter of urgency, to the acting Chief Judge of the
Federal High Court seeking his intervention in securing an early date,
with the intervention of the acting Chief Judge, Justice Aikawa now
fixed the hearing of the matter for 4th of May, 2018 at which date Union
bank Counsel did not appear in court but wrote to the court that he has
travelled to England for his 60th Birthday celebration.
follow with a letter of urgency, to the acting Chief Judge of the
Federal High Court seeking his intervention in securing an early date,
with the intervention of the acting Chief Judge, Justice Aikawa now
fixed the hearing of the matter for 4th of May, 2018 at which date Union
bank Counsel did not appear in court but wrote to the court that he has
travelled to England for his 60th Birthday celebration.
Mr Ilo then urged the acting Chief Judge to use his good office to
investigate this matter for appropriate action, to prevent
reoccurrence. When the matter was mentioned, Mr Oyewole SAN told the court that
application has been filed for the judge to hands off from the matter or
rather transfer the case file to the Chief Judge for re-assignment. Union bank counsel Chief Ajibola Aribisala SAN, in his response told the court that they are still within time to respond. Consequently, Justice Aikawa adjourned till 22nd of June, 2018 for the application to be heard.
investigate this matter for appropriate action, to prevent
reoccurrence. When the matter was mentioned, Mr Oyewole SAN told the court that
application has been filed for the judge to hands off from the matter or
rather transfer the case file to the Chief Judge for re-assignment. Union bank counsel Chief Ajibola Aribisala SAN, in his response told the court that they are still within time to respond. Consequently, Justice Aikawa adjourned till 22nd of June, 2018 for the application to be heard.
