Court Reverses Order against Africa Plus Partners, Bastanchury Power Solutions

Unfreezes bank accounts in Nigeria

Dismisses motion for interlocutory order of mareva injunction brought by the plaintiffs for lacking merit

The Federal High Court sitting in Lagos has reversed its exparte order of mareva injunction freezing the accounts of Africa Plus Partners, Bastanchury Power Solutions and sister companies delivered in March 2023.

The Federal High Court’s decision, issued on June 6, 2023, dismissed the motion for an interlocutory order of mareva injunction brought by the plaintiffs – Messrs. Fenchurch Energy Nigeria Limited, Mr. Funso Adeyemi and Mr. Femi Bakare, effectively vindicating the Defendants: Messrs. Africa Plus Partners, Bastanchury Power Solutions and the Africa Infra Plus Fund’s position.

The court’s ruling would appear to confirm that the Defendants have consistently adhered to high ethical standards, maintaining transparency and integrity in all their dealings.

The defence filed by the Defendants provides further clarity by revealing that the plaintiffs had previously filed two similar actions with reference FHC/L/CS/185/2020 and FHC/L/PET/644/2020 respectively, where they had attempted to obtain injunctions to cripple the Defendants’ businesses which turned out to be unsuccessful and later abandoned.

The Defendants also identified the Plaintiffs’ attempt to mislead the court by mischievously relying on outdated filings at the Corporate Affairs Commission.

The plaintiffs’ repeated lawsuits and false allegations regarding their shareholding in Bastanchury Power Solutions revealed a pattern of frivolous litigation and questionable tactics.
Africa Plus Partners stands firmly against such practices and remains committed to upholding the highest ethical standards.