Friday, December 11, 2015 4:32 pm
In a bid to recover a debt of N924.8 million, a Federal high court sitting in Lagos south west Nigeria has ordered that all accounts belonging to former Captain of the Super Eagles, Nwankwo Kanu and his company, The Hardley Apartments anywhere and in any bank or financial institution in Nigeria should be frozen pending the hearing of suit file against them.
Also affected by the other of the court is a Director of Hardley Apartment, Ayoola Gam-Ikon
The order of the court was as a result of a debt recovery suit filed by Asset Management Corporation Of Nigeria(AMCON) against the defendants.
In an affidavit sworn to by a Credit officer in the Directorate of AMCON, Mr Victor Igabor, filed and argued by Barrister Niyi Olopade, the Deponent averred that sometime between May, 2008 and January 10,2011 Skye bank offered The Hardley Apartments (engaged in business of Hospitality located at Plot 46 Waziri Ibrahim Crescent, Victoria island, Lagos) a loan of #520,457,000.
The loan was secured by a mortgage on the company’s three blocks of forty accommodation units estimated at open market value of #395 million as well as unconditional personal, joint and several guarantee of Ayoola Gam-Ikon and Nwankwo Kanu,
The defendants failed to repay the loan with the accrued interest despite repeated demands, consequent upon which Skye bank Plc assigned the defendants indebtedness in the sum of #558,313,905.37k as at 1st April,2011 to the AMCON as a toxic bank asset in line with the establishment objective of the said AMCON
Mr Igabor averred further that, this development was communicated to the defendants by Skye bank who admitted their indebtedness but praying that the assignment to AMCON be revoked.
The defendants’ indebtedness as at 15th October 2015 stood at N924,788,754.56k representing principal and interest while interest is still running,
Consequently, Igabor contended that The Hardley Apartments is at the brink of being dissipated, therefore if the application is not granted, Ayoola Gam-Ikon and Nawankwo Kanu could dissipate the assets of the company therefore. Igabor urged the court to issue interim order of possessing all movable and immovable properties known as Plot 46 Waziri Ibrahim Crescent Victoria Island.
He also wanted an order attaching the debt due from Hardley Apartments as well as debts accruing from the defendants jointly and severally and freezing all accounts belonging to the defendants jointly and severally in any bank or financial institution in Nigeria.
The presiding judge, Okon Abang while acceding to the request of AMCON, ordered that, AMCON shall in the interim possess all the movable and immovable properties known as plot 46 Waziri Ibrahim Crescent Victoria Island Lagos.
That in the interim the debt due or accruing from the Hardley Apartments as well as the debts accruing from the defendants jointly and severally and freezing all accounts belonging to the defendants jointly and severally anywhere and in any bank and any financial institution in Nigeria are hereby attached pending the hearing of this suit.
The matter has been adjourned for hearing.