Court voids Springview’s disputed meeting, halts sale of vessel

The Federal High Court in Port Harcourt has set aside an extraordinary general meeting of Springview International Logistics Limited and barred the company and its officials from proceeding with a proposed sale of its majority stake in an offshore vessel, MV Wariboko, pending the resolution of a suit filed by Global Spectrum Energy Services Plc.

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In a ruling delivered on 1 April, the judge, Stephen Pam, held that the meeting held on 24 February violated an earlier court order and ongoing proceedings before the court.

The suit, marked FHC/PH/CP/02/2026, lists Global Spectrum Energy Services Plc as the petitioner, while Springview International Logistics Limited, Olatunji Kolawole, Hakeem Haruna, Exmar Offshore Ltd and Adnoc Logistics & Services Plc are respondents.

The petitioner had approached the court by way of a motion on notice dated 27 February, seeking, among other reliefs, an order setting aside the meeting and all resolutions reached at the gathering, which it argued was convened in defiance of a subsisting court order made on 19 February.

In his ruling, Mr Pam agreed with the petitioner, declaring the meeting and its resolutions null and void.

“An order is hereby made setting aside the Extra-ordinary General Meeting of the 1st Respondent held on Tuesday, 24 February 2026,” the judge ruled, adding that all decisions taken at the meeting were equally invalid.

The court also granted an interlocutory injunction restraining the respondents, their directors, officers, or agents, from holding any meeting or taking any steps toward the sale or disposal of shares belonging to Springview International Logistics Limited in Electra Offshore Limited and Exview Hong Kong Limited.

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The judge said granting the injunction was necessary to preserve the subject matter of the dispute.

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“It will make no sense to allow the respondents to carry on with the proposed sale of the 1st respondent’s asset when the proposed sale is being challenged before this court,” he said. “It is safer and neater for the parties to await the determination of the petition.”

The court further awarded N500,000 in costs against counsel representing the first to third respondents, in favour of the petitioner.

The ruling followed an affidavit deposed to by Wasiu Akindele, a director in both the petitioner and the first respondent, who supported the application with a 71-paragraph deposition and a written address.

The case is part of an ongoing dispute over corporate governance and asset disposition within Springview International Logistics Limited.

The substantive suit is yet to be determined.