FirstBank has filed an appeal and injunction after the Federal High Court ruled its claim was a debt recovery case, not a maritime claim.
FirstBank has filed an appeal challenging the Federal High Court’s ruling that classified its maritime claim as a simple debt recovery case. The bank also filed an injunction against GHL, pending the appeal’s determination. Despite the ruling, the crude oil cargo on the FPSO Tamara Tokoni remains under arrest.
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The court’s decision came as a surprise, particularly as the bank’s order aimed to prevent fraudulent crude sales. Furthermore, the court ruled that the ex parte Arrest Order had expired 14 days after issuance due to effluxion of time.
Expressing dissatisfaction, FirstBank maintained that the ruling was a miscarriage of justice. The bank reaffirmed its commitment to protecting its stakeholders and pursuing justice against debtors attempting to exploit legal loopholes to evade their financial responsibilities.
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