Lagos Court Voids UK Court’s Ruling on Ubah

By Akin Kuponiyi

A Federal High Court sitting in Lagos, Southwest Nigeria, today ordered Access Bank Plc to withdraw within 48 hours all court processes filed before a London court against Nigerian businessman, Ifeanyi Patrick Ubah and his company, Capital Oil and Gas Limited.

The presiding judge, Justice Okon Abang, also ordered that the court order obtained by Access Bank should not be enforced in Nigeria.

Justice Abang further said that Ifeanyi Ubah and his company are at liberty to seek the leave of the court to commence civil contempt proceedings against the defendants, Access Bank and their principal officers.

The ruling of the court was based on the argument canvassed by Chief Wole Olanipekun (SAN), leading another Senior Advocate of Nigeria, Lawal Rabana and 16 other lawyers on behalf of the plaintiffs.

The plaintiffs said the defendants did not obey the order of the court made on 12 November, 2012 that no assets should be taken in respect of the assets of the plaintiff, pending the determination of the substantial suit.

Chief Olanipekun argued that the order of the London court obtained by the defendants was a calculated attempt to undermine the Nigerian judicial system because the parties are based in Nigeria, they run their businesses in Nigeria and the transactions involved in the case took place in Nigeria.

Uba and his company, Capital Oil, had filed a suit against Access Bank and Coscharis, denying that the loan obtained by Coscharis from Access Bank was guaranteed by the plaintiffs. Uba claimed he never received any statement or record of the loan transaction from Coscharis despite persistent demand.

Also, he said he never received notice of demand or default before an action was taken against him in a London court. Justice Abang has adjourned till 4 February for the hearing of the substantive suit.