November 10, (THEWILL) – Seplat Energy has said that the interim Orders of Mareva Injunction granted in the court action by Zenith Plc against Shebah Exploration & Production Company Limited and Others has no impact on its operation.
In a statement by Seplat Tuesday, the foremost energy firm maintained that the Mareva injunction, which is a court order freezing a debtor’s assets to prevent them bring taken abroad, have no effect on its activities contrary to the impression being expressed in some quarters.
Seplat Energy disclosed that it has been made aware of the ex parte Interim Orders of Mareva Injunctions which were granted by the Federal High Court sitting in Lagos, Nigeria in a court action instituted by Zenith Bank PLC against Shebah Exploration & Production Company Limited and 8 others, with an additional 29 cited parties.
According to Seplat. “The Interim Orders give an administrative mandate to Seplat Energy Plc and others not to deal with the assets of (or transfer funds to) Shebah Exploration & Production Company Limited, Shebah Petroleum Development Company Limited and Dr. A.B.C. Orjiako..
“The order has no impact on the operations of Seplat Energy. We understand the injunction relates to loans made by Zenith Bank PLC to Shebah Exploration & Production Company Limited in 2014.”
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