Alleged debt: Court dismisses bank’s suit against Petrocam

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The Federal High Court in Lagos has dismissed a suit filed by Union Bank Limited seeking the recovery of an alleged debt from a multinational

Justice I. N. Oweibo held that the bank’s suit was an abuse of court process.Petrocam Trading Nigeria Limited, Mr Patrick Ilo and Petrocam Trading Limited South Africa were the first to third defendants/applicants while Union Bank was the plaintiff/respondent in the suit.

“That the plaintiff/respondent is aware of the pendency of the above mentioned suit pending before the Lagos State High Court as same has been served on the plaintiff/respondent prior to institution of the instant suit. The judge held: “The plaintiff knew of the existence of the suit in the High Court of Lagos State, the deposition in Paragraph 5 of their counter-affidavit, notwithstanding.

 

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