Neimeth International has disclosed that Access Bank has served the company with a notice warning against dealing with investor and chairman of the drug firm, A.B.C Orjiako.
The pharmaceutical company said it received a bankruptcy action instituted by Access Bank Plc. against Orjiako for recovery of an outstanding judgement sum.
In a statement released on Wednesday, Neimeth said the judgement sum was delivered by the High Court of the United Kingdom and registered in Nigeria as a judgment of the Federal High Court.
Neimeth stated that the notice, an interim court order, restrained the pharmaceutical company from dealing with the shares, investments, bonds, assets and funds belonging to Orjiako.
The restriction will stay in place pending the hearing and final determination of Access Bank’s motion for the appointment of a Special Manager.
According to the firm, the bankruptcy proceedings won’t affect Neimeth, as the company is neither a judgment debtor in the UK judgment sought to be enforced and there are no claims against the company.
“Neimeth International Pharmaceuticals Plc. (the Company) announces that it has been made aware of ex parte Interim Court Orders granted by the Federal High Court sitting in Lagos, Nigeria in a bankruptcy action instituted by Access Bank Plc. against Dr. A.B.C Orjiako (the Company’s Chairman), for recovery of the outstanding judgement sum in the judgment delivered by the High Court of the United Kingdom and registered in Nigeria as a judgment of the Federal High Court.
“Neimeth International Pharmaceuticals Plc and other companies are by the Interim Court Order restrained from dealing with the shares, investments, bonds, assets and funds belonging to Dr. Orjiako, whether held by him directly or via proxy and which are in the custody of Neimeth or any financial institution, pending the hearing and final determination of Access Ban’s motion for the appointment of a Special Manager.
“Neimeth International Pharmaceuticals Plc. is not a judgment debtor in the UK judgment sought to be enforced and there are no claims against the Company in the bankruptcy proceedings, thus, the Orders have no impact on the operations of the Company,” Neimeth said in the statement.
Access Bank has been going after Orjiako’s assets, as the financial institution had also issued the same bankruptcy interim court order to Seplat.
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