Alleged $4.4m Debt: Logistics Firm Loses Bid to Vacate Ex-Parte Order

All efforts by GPC Energy and Logistics Limited, to discharge a restriction order placed on it’s accounts in 36 banks in Nigeria, by a Lagos Federal High Court, seem to have failed to yield desired results as the application to discharge the order wasstruck out.

GPS Logistics is alleged to be indebted to Ecobank Nigeria Limited, in the sum of $4,454,348.28 million. Upon the failure of the firm to pay the alleged debt, Ecobank, through it’s Lawyers, Dr Kemi Pinheiro, SAN, leading Chukwudi Enebeli, SAN and three others, had approached the court  presided over by Justice Akintayo Aluko on August 6, with an Ex-Parte motion for orders against the company and it’s alter ego, Chukwudi Elvis Okonji, for an order of the court pending the hearing and final determination of the Motion on Notice filed, restraining the named Banks whether by themselves, directors, managers, officers or howsoever from accepting, honouring or giving effect in any manner howsoever to any mandate, cheque or instructions presented by the Respondents, whether by themselves or through their servants, agents or privies and/or any other director(s), shareholder(s), officer(s), employee(s), official, private or other security personnel and/ or privies, assigns, nominees, attorneys, or any other person(s) acting in their stead, on their behalf and instruction or any person (natural or artificial), howsoever designated for the withdrawal of any sum of money and or funds standing to the credit of the Defendants maintained at any of the named Banks and/ or their branches without first ring-fencing/ preserving the sum of $4,454,348.28, its equivalent in Naira, or any other currency howsoever described, which sum ought to be available for satisfaction of the Plaintiff’s claim in this suit, among other prayers. 

The Banks ordered to comply with the order are: Guaranty Trust Bank Plc: Guaranty Trust Holding Company Plc; Zenith Bank Plc; First Bank of Nigeria Limited; Polaris Bank Limited; Standard Chartered Bank Limited; First City Monument Bank Limited; Access Bank Plc; Keystone Bank Limited; Fidelity Bank Plc; Union Bank of Nigeria Plc; United Bank for Africa Plc; Citi Bank Limited; Ecobank Nigeria Plc; Heritage Bank Company Limited and Stanbic-IBTC Bank Plc.

Others include: Unity Bank Plc; Wema Bank Plc; Sterling Bank Plc; Titan Trust Bank Limited; Globus Bank Limited; Suntrust Bank Nigeria Limited; Providus Bank Limited; FDSH Merchant Bank Limited; Optimus Bank Limited; Parallex Bank Limited; Premium Trust Bank Limited; Jaiz Bank Plc; Lotus Bank; Tajbank Limited; Kuda Microfinance Bank; Moniepoint Microfinance Bank; Opay Digital Services Limited; Palmpay Limited; Vfd Microfinance Bank and FBNQuest Merchant Bank. 

At the resumed hearing of the matter on, October 16, before Justice Ambrose Lewis-Allagoa, Professor Fidelis Oditah, KC, SAN, with Innocent Ukpai appeared for the GPS Logistics and its alter ego.

To save time, the Court directed that both Counsel adopt the processes filed in respect of the Motion for Interlocutory Injunction and the Defendant’s Reply.

The Court then adjourned the matter to November 7, 2024 for ruling.