Alleged Indebtedness:  Oil Firm ‘Everest Nominees’ Loses Bid To Lift Orders On Assets

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By Gbenga Ogunbufunmi



A Federal High Court sitting in Lagos on Wednesday refused an application filed by Everest Nominees Limited and Dr Bolaji Ogundare seeking urgent hearing in the debt recovery case filed by Assets Management Corporation of Nigeria (AMCON), against them.

Justice Oweibo directed both parties, AMCON and Everest Nominees Limited to come back for hearing on October 13, when the court would have returned from its annual vacation.

Everest Nominees Limited had filed an application for urgent hearing in the matter with the aim of asking for an order lifting some parts of a July 1, 2020 interlocutory order granted by  Justice Mohammed Liman of the same Federal High  Court,  empowering  AMCON to take over the assets of Everest Nominees Limited over the company’s alleged indebtedness.

Justice Liman’s order granted an interim order of possession of the firm’s assets to AMCON’s appointed Receiver/Manager, Mr Kunle Ogunba (SAN).

The judge in the ruling ordered AMCON to take over 0several Oil Mining and Oil Prospecting Licences, such as OML 147, OML 152 and OML 98, belonging to Everest Nominees Limited.

The corporation was further empowered to take over several properties belonging to the firm in Lagos.

The properties include 33b, Adebayo Doherty Street, Lekki Phase I; FF Towers at Plot 13/14 Ligali Ayorinde Avenue, Victoria Island;  No. 8, Modupe Alakija Crescent, Ikoyi; Grand Villa at No. 10/12, Modupe Alakija Crescent, Ikoyi; No. 14, Modupe Alakija Crescent, Ikoyi, Lagos; Ark Towers situate at No. 17, Ligalli Ayorinde Avenue, Victoria Island;  Plot 5 and Plot 822, Samuel Manuwa Street, Victoria Island.

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