Alleged $101m Debt: Court Adjourns Further Hearing Of Bankruptcy Suit Against Dr. ABC Orjiakor

Further proceedings in bankruptcy suit filed against Dr. Ambrose B. C. Orjiakor, before a Federal High Court, Lagos, over alleged inability to pay the debt of $101m USD, has been adjourned to July 23,

The presiding judge, Justice Deinde Dipeolu, fixed the date at the instance of the alleged debtor, Dr. Orjiakor, through his lawyer, Anthony Ndigbe (SAN), who pleaded for more time to settle the matter out of court.

Other Other respondents in the bankruptcy action marked FHC/L/BHK/08/2023 filed by Access Bank Plc are: Seplat Energy Plc; Helko Nigeria Limited; Neimeth International Pharmaceuticals Plc; Salvic Petroleum Resources Limited; Zebbra Energy Limited; Ordrec Group Limited; Helko Marine Services Limited; Berwick Nigeria Limited; Abbeycourt Petroleum Company Limited; Abbeycourt Energy Services Limited; Abbeycourt Company Limited and Pursley Resources Limited.

At the resumed hearing of the matter today, Mr. A. B. Ogunba (SAN) leading .. Ogunba appeared for the creditor, Access Bank Plc, Mr. Anthony Ndigbe (SAN) appeared for the alleged debtor, Dr. Orjiakor, Toyeeb Ipaye appeared for 2nd-5th and 7th to 12 respondents Bode Olanipekun (SAN) appeared for the 1st respondent, Seplat Energy Plc, Adam Wahab appeared for AMCON, Babatinde Olanipekun appeared for Zenith Bank Plc.

At today’s hearing, lawyer to the alleged debtor, Ndigbe (SAN) informed the court that the matter is listed for report of settlement, and that AMCON was directed by the court to coordinate the settlement meeting.

Responding, AMCON’s lawyer, Wahab told the court that his client received from the respondent a draft of the settlement which encompass the interest of the lenders in the suit.

He also told the court that he has made a comment on the draft to the respondent, while awaiting the reverse copy of the draft from the respondent.

In his respond, lawyer to the creditor, Ogunba (SAN) told the court that he was not aware of the draft copy of the settlement and that the draft has been drafted for the past four weeks.

Ogunba also informed the court of his motion on notice which he described as an ‘harmless’.

He therefore urged the court to allow him to move the motion.

However, Mr. Olanipekun (SAN), lawyer to Seplat, told the court he has a motion seeking out to strike the name of his client from the suit, on the basis that the court lacks jurisdiction over the first respondent.

In view of all parties’ submissions Dr. Orjiakor’s lawyer, Ndigbe (SAN) pleaded with the court for four weeks adjournment to allow the ‘narrow portion’ left in the settlement terms to be resolved. Though, Olanipekun (SAN) said he did not know anything about the settlement and have no business in the matter.

However, the presiding judge, Justice Dipeolu, after listening to all counsel, acceded to Ndigbe’s adjournment request and adjourned the matter to July 23, 2025, for report of settlement.