The Federal High Court in Lagos has indefinitely adjourned the case involving an alleged $225.8 million debt owed to First Bank of Nigeria Ltd and FBNQuest Trustees Ltd by General Hydrocarbons Limited (GHL). Justice Deinde Dipeolu made this decision to await the outcome of an appeal filed by the parties.
During the recent hearing, Buchi Ofolue represented the plaintiffs, First Bank and FBNQuest Trustees. Taiwo Doherty and Wilson Okereke appeared for the first defendant, GHL. Senior Advocate of Nigeria (SAN) Olumide Aju represented the second to fifth defendants, including Nduka Obaigbena and other GHL directors. I.O. Ike represented the sixth and seventh defendants, Aimonte Nigeria Ltd. and Calidin Oyo Production BBS Ltd., while Uzoamaka Ikpeazu appeared for the thirteenth defendant, Glencore Energy UK Ltd.
Aju informed the court that all parties had filed and exchanged briefs at the Court of Appeal. He noted an agreement with fellow SAN Victor Ogude, who previously represented the plaintiffs, to adjourn the matter indefinitely at the lower court. Although Ogude was absent, Ofolue confirmed the agreement. Consequently, Justice Dipeolu ruled to adjourn the proceedings sine die, pending the appeal’s outcome.
The indefinite adjournment underscores the complexity of the financial dispute between First Bank and GHL. The pending appeal’s resolution will be pivotal in determining the next steps in this high-stakes legal battle.
