Saturday, 08 May, 2021

N537m Debt: Donald Duke Begs For Out-of-court Settlement With AMCON


A former governor of Cross River State, Donald Duke, on Monday pleaded with a Federal High Court in Ikoyi, Lagos, for an out-of-court settlement with the Asset Management Corporation of Nigeria to allow him pay the sum of N537,334,360.77 debt he owes.

The court had on August 8, granted an ex-parte ordered to AMCON and United Bank for Africa to take over a Lagos property of Duke over the alleged debt in suit no FHC/L/CS/1373/2019.

AMCON, through its counsel, Juliet Reeds, approached the court to take possession of Duke’ property situated in Ikoyi over his refusal to pay his debts.

During the court hearing on Monday, a lawyer, who appeared for Duke, Edoigiawerie Omoruyi, informed Justice Nicolas Oweibo, the presiding judge, that his client had approached AMCON to have the case settle out of court.

He said, “We have promised to pay the debt today September 2.”

Counsel to AMCON, Austin Erhabor, confirmed that they had been approached for an amicable settlement to pay the debt.

He said, “In the spirit of trust and fairness, we will concede to an adjournment to enable us finalise the possible settlement.”

Justice Oweibo, after listening to both parties, adjourned the case to September 11, for report on settlement. 

Legal Money Politics News AddThis :  Original Author :  SaharaReporters, New York Disable advertisements : 

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