The Court of Appeal Sitting in Lagos, earlier today suspended the Order of Interlocutory Injunction made by the Lagos Federal High Court that led to the sealing of Seplat's Corporate Headquarters situated in a building located at 16A Temple Road, Ikoyi, Lagos State.
The Court reportedly suspended the Order, upholding Seplat's application made December 2, 2020.
Fresh Angle International, understands that the building was Sealed in connection with a court case concerning an outstanding loan to Access Bank Plc by Cardinal Drilling Services Limited (Cardinal Drilling) a third - party providing drilling services to Seplat.
Seplat, in a statement released this evening via its twitter handle, explained that it is not party to the loan agreement, security agreement or guarantees in respect of Cardinal Drilling's loan obligations to Access Bank Plc.
The company vowed to vigorously defend itself against, "its unmerited inclusion in the court action by Access Bank Plc".
Copyright: Fresh Angle International (www.freshangleng.com)
ISSN 2354 - 4104
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