Court orders bank to take control of company’s residential or commercial properties

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By Innocent Anaba.

LAGOS– LANDED residential or commercial properties coming from A-Z Petroleum Products Limited, have actually been taken control of by the Union Bank of Nigeria Plc, and Mr. Gbenga Akinde-Peters, a receiver/manager, selected over the residential or commercial properties on the orders of a Federal High Court being in Lagos.

The take-over of the business’s landed residential or commercial property located at Plot 3508 Cadastral Zone A06, Maitama District, Abuja, covered by a Certificate of Tenancy (CofO) outdated September 7, 2005, and signed up as No. 3586, Vol. 18, at Abuja Land Computer registry, followed a Mareva injunction, approved by Justice Chuka Obiozor of the court.

The Mareva Injunction was submitted and argued by Mr. Temiloluwa Adamolekun, counsel to the candidates.

Giving the order, Justice Obiozor stated: “In the light of the application for Mareva order, with affidavit in assistance and composed address and submission of the counsel, the application is be successful and thus approved.”.

” The order approved is to last pending the hearing and decision of the substantive match.”.

Adamolekun had actually asked the court for an order to approve the 2nd complainant, Akinde-Peters, who is a receiver/manager selected by Union Bank of Nigeria Plc, to take control of the special belongings of the stated landed residential or commercial property, together with any structure and appurtenances thereon, by the virtue of the Deed of visit made on July 18, 2018, pursuit to the appropriately signed up tripartite deed of legal home loan outdated September 1,2018

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