Court Reverses Order against Africa Plus Partners, Bastanchury Power Solutions

•Dismisses motion for interlocutory order of mareva injunction brought by plaintiffs

The Federal High Court in Lagos has issued a ruling reverting its earlier decision and reversing the order that froze the bank accounts of Africa Plus Partners and Bastanchury Power Solutions.

The court’s decision, delivered on June 6, 2023, dismissed the plaintiffs’ motion for an interlocutory order of mareva injunction, shedding light on the meritless nature of the claims brought against the defendants.

The plaintiffs, comprising Fenchurch Energy Nigeria Limited, Mr. Funso Adeyemi, and Mr. Femi Bakare, had sought to obtain an injunction against Africa Plus Partners, Bastanchury Power Solutions, and the Africa Infra Plus Fund.

However, the court’s ruling effectively vindicated the defendants, highlighting their consistent adherence to high ethical standards and unwavering commitment to transparency and integrity in all business dealings.

Further revelations emerged during the defense proceedings, exposing the plaintiffs’ history of filing two similar actions, identified as FHC/L/CS/185/2020 and FHC/L/PET/644/2020, which aimed to disrupt the defendants’ operations through injunctive measures.

These attempts proved unsuccessful and were ultimately abandoned. Additionally, the defendants revealed the plaintiffs’ misleading tactics, wherein they presented outdated Corporate Affairs Commission filings from 2015 instead of the certified 2020 filings executed by the plaintiffs.

“The plaintiffs’ repeated lawsuits and false allegations regarding their shareholding in Bastanchury Power Solutions have raised questions about their motivations and tactics.

“The court’s reversal of the order signifies the recognition of these questionable practices and affirms the defendants’ position of innocence and integrity,” a statement explained.