Business News of Thursday, 3 November 2022

Source: www.punchng.com

Shell to pay Amni’s $4.6m into court’s account

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Justice Akintayo Aluko of a Federal High Court sitting in Lagos has ordered Shell Western Supply & Trading Limited to pay the sum of $4.6m into the account of the court’s deputy chief registrar the sum which the firm keeps for Amni International Petroleum Development Company Limited.

In addition, the court directed the deputy chief registrar to pay the sums admitted by Amni – $3.571m and N271.138m – entered as a judgment directly to its creditor, SpringRock Energy Limited, in the bank account nominated by them within five days.

The order followed the applications filed by SpringRock through its team of counsel led by Olumide Aju, SAN, and counterarguments by the defendants’ counsel, Olumide Sofowora, SAN.

Justice Aluko made the order along with others on October 28 in a judgment in suit, FHC/L/CS/1290/22, filed by SpringRock Energy Limited and SpringRock Energy Limited Mauritius as first and second plaintiffs/applicants.

The defendants/respondents are Amni and Amni International Petroleum Development Company 52 Limited and five Mareva parties, comprising Shell and four banks.

The court also granted the plaintiffs/applicants three other reliefs.

In all, the court decided on three applications – two of them by SpringRock and the third by Amni.