Friday
January 21, 2022 / 04:27 PM / by ThisDay Newspaper / Header Image
Credit: Tribune Online
The
General Public, all Banks, Financial institutions, relevant regulatory agencies
and Government Registries are notified as follows:
1. In the
exercise of its rights pursuant to the Consent Judgment entered on 24th
February 2021 in the Suit No: LD/ADR/304 1/2020 - Growth and Development Asset
Management Limited v, Staco Insurance PLC & Ors, confirmed by the Orders of
the Federal High Court made on 5th January 2022 in Suit No:
FHCA/CS/1882/2021 - Growth and Development Asset Management Limited v. Staco
Insurance PLC & Ors, the Growth and Development Asset Management Limited)
has appointed I, David Olanrewaju Olaoluwa as Receiver of all funds and assets
(movable or immovable) (jointly referred to as ("assets") of the persons and
entity listed below:
i.
STACO INSURANCE PLC
ii.
MR SAKIRU OYEFESO
iii.
MR BAYO FAKOREDE
2. In furtherance of this appointment, I, have taken over
all the assets of the above-listed persons and entity towards the satisfaction
of the outstanding debt owed to the Growth and Development Asset Management
Limited.
3.
Pursuant to the Order of Court. no further
transactions in respect of the funds and assets of the above listed persons and
entity, up to the Judgment debt of N240,000,000.00 (Two Hundred and Forty
Million Naira) only, and the continuing interest of 10% per annum from 1st July
2021 until full satisfaction of the Judgment debt, may occur except at my
request or order as Receiver/Manager, as the said funds and assets have been
attached in satisfaction of the debt.
4.
All financial institutions, stock registrars, property
managers or any person or institution in custody of any assets of all or any of
the above-named persons and entity are required by the Order of Court to
disclose to me, within a period of five (5) days from the date of this Notice,
the full and complete particulars of such assets in their custody, by an Affidavit
filed in court and delivered to the address indicated below.
5.
In consequence of the above, the Public, all Banks,
Financial Institutions and Government Registries are hereby urged to comply
with the afore-mentioned Order of Court and refrain from any prejudicial
dealings in respect of the assets, as any breach may constitute contempt of
Court and be punishable as such.
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