By Sandra Umeh
LAGOS/Nigeria: A Federal High Court in Lagos has ordered the placement of Green Energy International Ltd. and Lekoil Oil and Gas Investments Ltd. under interim administration over their alleged failure to settle a 25.5 million dollar debt owed to H-PTP Energy Services Ltd.
Justice Ambrose Allagoa, who issued the ruling, also appointed Mr. Chimezie Ihekweazu (SAN), an accredited insolvency practitioner, as interim administrator for both companies pending the determination of a substantive suit.
The court directed that the administrator should assume full managerial functions of the companies, except the distribution of their assets, which remains restricted until the case is finally decided. The judge further ordered that the interim administration will remain in force until the substantive matter before the court is resolved.
In addition, the court granted an order mandating all banks and financial institutions regulated by the Central Bank of Nigeria to ensure that the companies’ accounts are placed under the control of the appointed administrator or his nominee.
The orders followed an ex-parte application filed by H-PTP Energy Services Ltd., which sought restraining, Mareva, and injunctive reliefs against the respondent firms over the alleged debt default.
According to the applicant, the two companies, as joint venture partners in the Okatikpa Field under Petroleum Mining Lease 11 located in Andoni, Rivers State, have been indebted to it in the sum of 25.5 million dollars since mid-2025. It claimed the firms acknowledged the debt in writing but failed to liquidate it despite repeated demands.
H-PTP further alleged that the respondents had become evasive and were attempting to dispute what it described as an already-agreed obligation. The applicant stated that it attached details of bank accounts, receivables, and crude oil stock belonging to the firms as part of its supporting documents before the court.
Justice Allagoa subsequently adjourned proceedings to February 26 for hearing of the substantive motion. (NAN)
