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The Federal High Court in Lagos has upheld United Bank for Africa (UBA) Plc’s appointment of a receiver-manager and its mortgage safety in a debt restoration case involving Stallion Group, the Vaswani brothers and different defendants.
Justice Daniel Osiagor dominated in favour of UBA, granting the reliefs sought by the financial institution in the case, which dates again to October 2023, when it claimed N156.03 billion was owed.
The court docket affirmed the appointment of Romeo Ese Michael as receiver-manager, together with his proper to take possession of the mortgaged property and search protecting orders. It additionally restrained the defendants from diverting receivables as a result of them from authorities businesses.
Danjuma Ibrahim is a writer and blogger who shares engaging perspectives, timely updates, and thoughtful commentary. With a sharp eye for storytelling, he turns key topics and trending conversations into clear, accessible reads for everyday audiences. When he isn't drafting new posts or researching the next story, Danjuma is building real connections with his readers and exploring fresh ideas across digital media.
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