Page 2 - Mareva Order News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Citi Bank and two other commercial banks are in big trouble for violating a court order freezing the accounts of Dutch Oil giant, Royal Shell, in a case involving the alleged theft of over two million barrels of crude. A federal court in Lagos had issued an injunction barring Royal Dutch Shell’s Nigerian subsidiaries from withdrawing money at 20 local banks until it ringfences potential damages in a lawsuit brought against the oil major by Aiteo Eastern E&P. Aiteo is accusing Shell of deliberate improper metering of the Nigerian company’s oil exports from the Bonny Light terminal. It is s...

  A Federal High Court in Lagos has fixed March 2 to rule on whether to first hear an application challenging its jurisdiction or committal proceedings against 2 banks for disobeying its order to freeze the accounts of Shell Petroleum Development Company, SPDC. Justice Oluremi Oguntoyinbo fixed the date after hearing arguments of lawyers in the case on which application should be heard first. AITEO Eastern E & P Company Ltd through its counsel, Kemi Pinheiro SAN had filed form 48 as provided under the Sherrif and Civil Process Act to initiate contempt proceedings against the banks and its of...