UBA claims Stallion Group’s assets over N156bn debt

UBA claims Stallion Group’s assets

News reaching us that THE United Bank for Africa, UBA, Plc has claimed the assets of Stallion Nigeria Limited and its subsidiaries in Lagos, Port Harcourt and Kano, following an order of a Federal High Court in Lagos, in an alleged N156,026,032,804.84 debt suit.

On the 20th of October 2023, bank’s receiver manager, Romeo Michael and court bailiffs with some high heavy guards from the police carried out the the interim orders made by Justice Akintayo Aluko.

This order will last pending the hearing and determination of the motion on notice, which the court adjourned till November 20, to hear.

UBA claims Stallion Group’s assets

All the assets affected include mortgaged property known as “all that piece or parcel of land together with any building thereon” at Plot 371, Trans Amadi Industrial Layout, Port Harcourt, Rivers State.

 ”Plot 353, Trans Amadi Industrial Layout, Port Harcourt, Rivers State, Plot 370, Trans Amadi Industrial Layout, Port Harcourt, Rivers State, KM17, Lagos Badagry Expressway, Lagos State and No. 54, Challawa Industrial Estate, Kano State, Nigeria.”

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