Bankruptcy: ABC Orjiakor May Face Contempt Charge Nov. 3

BY MICHAEL AKINOLA

The Federal High Court sitting in Lagos may on November 3 hear an application by Access Bank Plc seeking to cite a businessman, Dr. Ambrosie “ABC” Orjiakor, for contempt of court.

The court will also, on same day, rule on other applications it heard during proceedings on Friday, October 20.

Access Bank Plc filed the suit numbered FHC/L/BK/08/2023, following the alleged inability of Dr. Orjiakor, to pay the sum of $101 million he allegedly owes the bank.

Listed as respondents in the suit 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 resumption of proceedings on Friday, Mr. Kunle Ogunba (SAN) led a team of counsel on behalf of the Creditor (Access Bank Plc).

Messrs O. Kalu, A. Abdusalam and P. Oyeniko appeared for the Debtor; E. Anayo appeared for the 1st Respondent (Seplat Energy Plc); Victor SAN appeared for the 2nd-4th and 7th-12th Respondents, E. Akpuduko appeared for Providus Bank (party sought to be joined), while other counsel appeared for the other respondents.

Ogunba informed the court that the matter was set down for hearing of the creditor’s application regarding the alleged contempt actions of the Debtor and some of the Respondents.

The application is seeking an order declaring that the alleged debtor is in violation of an order of court by deleting possession marks from the fence of two properties in dispute.

It is also seeking an order compelling the alleged debtor to purge himself by putting back the possession marks on the properties.

But Kalu told the judge that the alleged debtor had a pending application for stay of proceedings as they had filed a notice of appeal against the October 3, 2023 ruling of the court.

Counsel to Providus Bank also stated that they had an application seeking to be joined as party in this suit.

Counsel to the 2nd-4th, 7th-12th Respondents also informed the court of their Notice of Preliminary Objection filed against the Creditor’s contempt application and prayed the court to hear same first.

In response, Ogunba informed the court that the said applications were just served on him a day earlier and should not be heard in that day’s proceedings.

In a bench ruling, Justice Oweibo held that he would hear the Preliminary Objection of the 2nd-4th, 7th-12th Respondents and the application seeking to stay proceedings by the debtor first, before the Creditor’s contempt application.

The court then granted Ogunba’s request to hear both applications immediately and to allow him respond orally on points of law.

After hearing both applications the judge adjourned till November 3, 2023 for Ruling/hearing of the Creditor’s contempt application.

The judge had on July 26, while granting an ex-parte motion filed by Ogunba, froze Orjiako’s bank accounts and other assets over the alleged indebtedness.

He ruled, among others, that the order subsists pending the determination of the bank’s motion on notice for the appointment of a special manager.