A Federal High Court in Lagos has ordered the Asset Management Corporation of Nigeria and the United Bank for Africa to take over an Ikoyi, Lagos, property of a former Governor of Cross River State, Mr. Donald Duke, over an alleged debt of N537,334,360.77.The order was pursuant to an ex parte application, marked, FHC/L/CS/1373/2019, taken before the judge by AMCON and UBA. Listed as first to third defendants were Stonehedge Investment Limited, Mr Donald Duke and Mrs.
They told the court that the property was mortgaged by Duke “as collateral in securing the 1st respondent’s indebtedness to the applicants.” They also prayed the court for an interim Mareva injunction to take possession of funds in the accounts of Duke and others in any bank “pending the institutional and disposal of proceedings for the recovery of a debt of N537,334,360.77 made up of the principal debt and interest against the respondents pursuant to Section 50 of AMCON Act 2010.”
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N537.3mn Debt: Court tells AMCON to take over Donald Duke's Ikoyi home - Premium Times NigeriaListed as respondents in the suit were Stonehedge Investment Limited, Donald Duke and Owanari Bob-Manuel Duke.
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Debt: AMCON Takes Over Donald Duke’s Ikoyi Home | Sahara ReportersDebt: AMCON Takes Over Donald_Duke’s Ikoyi Home | Sahara Reporters The applicants had prayed the court for “an order of interim attachment, possession and custody of the property being No. 3, Temple Road, Ikoyi, Lagos”. READ MORE:
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Court To AMCON: Seize Donald Duke’s Ikoyi HomeCourt To AMCON: Seize Donald Duke\u2019s Ikoyi Home Justice Chuka Obiozor of the Federal High Court in Lagos has granted permission to the Asset Management Corporation of Nigeria (AMCON) and United Bank for
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