Tuesday, April 22, 2014

Great Ogboru a chronic debtor, AMCON tells court

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AMCON said the Delta State politician has failed to pay his debt.

The Asset Management Corporation of Nigeria (AMCON) on Thursday told a Federal High Court in Lagos, that a former Delta State Governorship Aspirant, Great Ogboru “is a chronic debtor”.

The counsel to AMCON, Kunle Ogunba, made the statement in reaction to two motions filed by Mr. Ogboru.

The first motion sought to set aside a court order, which allowed the appointment of a receiver manager to Mr. Ogboru’s property.

Justice Okon Abang made the order in January 13, appointing a receiver manager to the defendant’s property, following a suit filed by AMCON over an unpaid loan transaction.

In the second motion, Mr. Ogboru challenged the jurisdiction of the court to hear the suit, which he described as an “abuse of court process.”

AMCON, in its affidavit, affirmed the indebtedness of Mr. Ogboru to Equatorial Trust Bank (now Sterling bank) and his unwillingness to liquidate the debt.

But Mr. Ogboru’s counsel, McCarthy Mbadugha, said the suit was an abuse of court process because there was a pending suit in the Federal High Court, Abuja, on the same subject matter.

Mr. Mbadugha said that the Abuja High Court had earlier issued an order restraining AMCON from taking over Mr. Ogboru’s property.

He also faulted the appearance of Mr. Ogunba in the matter, saying that the lawyer already had financial interest in the matter, having been appointed as receiver/manager.

Mr. Mbadugha, therefore, urged the court to dismiss the suit.

Responding, AMCON’s counsel told the court that the action of people like Mr. Ogboru was responsible for the collapse of some banks in the country.

He said the defendant had agreed that the principal loan of N33 million was outstanding.

Mr. Ogunba also argued that the governorship aspirant had not even liquidated his debt but wanted the court to determine the interest.

He told the court that Mr. Ogboru’s motion was misconceived and ought not to see the light of day.

Justice Abang, after listening to the counsel, fixed March 22 for Mr. Ogboru’s reply on point of law to AMCON’s argument.

The court also ordered that all banks and financial institutions in the country should furnish the receiver/manager the details of any sum standing to the credit of the defendant.

Besides, Mr. Abang also ordered the Assistant Inspector-General of Police, Zone 2, and the Commissioners of Police in Lagos, Delta, Edo and Rivers to assist the receiver manager in performance of his duty.

 

(NAN)

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