The Federal High Court sitting in Lagos has adjourned sine die (indefinitely), the proceedings in the case of an alleged $225.8m debt owed First Bank Nig. Ltd & FBN Quest Trustees Ltd by an oil and gas company firm, General Hydrocarbons Limited (GHL).
Justice Deinde Dipeolu adjourned indefinitely to await the outcome of the appeal filed by the parties.
At the proceedings on Tuesday, Buchi Ofolue represented the plaintiff, First Bank & FBN Quest Trustees while Taiwo Doherty and Wilson Okereke represented the Ist defendant, General Hydrocarbons Ltd.(GHL).
Senior Advocate of Nigeria, Olumide Aju represented the 2nd -5th defendants, Nduka Obaigbena & the other directors of GHL, I. O Ike represented the 6th & 7th defendants, Aimonte Nig. Ltd. & Calidin Oyo Production BBS Ltd while another counsel, Uzoamaka Ikpeazu represented the 13th defendant, Glencore Energy UK Ltd.
Aju told the court that parties have fled and exchanged briefs at the Court of Appeal.
He also said that he had spoken with his brother silk, Senior Advocate of Nigeria, Victor Ogude, who had previously represented the plaintiffs and they had both agreed that the matter be adjourned sine die at the lower court.
Though Ogude was absent in court on Tuesday, Ofulue who represented the plaintiffs confirmed to the court that parties had indeed agreed that the matter be adjourned indefinitely.
After listening to the lawyers, Justice Dipeolu in a short ruling adjourned proceedings indefinitely to await the outcome of the appeal.
