1 2 3 4 5
Published On: Fri, Jul 5th, 2013

NLNG Bows to NIMASA Opts to Settle Indebtedness

The feud between Nigerian LNG Limited, NLNG, and Nigerian Maritime Administration and Safety Agency, NIMASA, appears to be settled as NLNG has opted to settle its indebtedness to NIMASA, in compliance with NIMASA Act.
This emerged after yesterday’s court session, where the counsel to NLNG, Mr. Wale Akoni (SAN) informed the court that NLNG was in the process of finalising the terms of a proposed consent order on its agreement with NIMASA and other parties for the vacation of an earlier order made against the Attorney-General of the Federation, Global West Vessel Specialist Limited and NIMASA in the suit.
Akoni, yesterday, asked the court for an adjournment to come back today for the matter, to enable NLNG shareholders come to terms on the consent order to be proposed to the court on the basis of the terms of the consent order agreed by the parties.
The court had earlier, yesterday, adjourned the matter briefly at NLNG’s request for it to be able to tidy up its side.
However on the return of the parties to court at 12.15p.m., NLNG had still not been able to reach a clear position on the terms for the consent order.
Source: Vanguard

Subscribe to our newsletter for news update:

About the Author



Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>