CAVEAT EMPTOR: Supreme Court blasts Shell Petroleum Development Company for Divesting its Assets against Court Orders

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urgent Need for investors to be Aware and Obey Court Order(s)

 

 

The supreme court on Thursday slammed Shell Petroleum Development Company Nigeria Ltd for divesting its assets, as against court orders.



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The Supreme Court ordered all parties to maintain status quo in the matter of an appeal brought before it over the N800 billion judgement debt awarded to Egba-
lor, Ebubu community in Eleme Local Government Area of Rivers State against international oil company Shell, as the apex court adjourned the appeal brought by lawyers to the IOC to November 3, 2022.

According to an expert opinion “insurbodination, subjugation, irrational behaviour, incivility and incessant violation of Court Orders are the characteristics, veracious description of the Appellant in this caption.

He further called for urgent Need for investors to be Aware and Obey Court Order(s).

He noted that this is Amidst disobedience to the judgement of the Federal High Court, Owerri on the 27/11/2020;

“Amidst disobedience to the combined rulings of mareva injunction and deposition of judgement  into escrow interest yielding account of the court delivered by three panel justices of the court of Appeal Owerri judicial Division.

“Amidst disobedience to the Supreme Court consolidated rulings dated 10/05/2022.

“Suffice to remark that Shell Petroleum Development Company of Nigeria is in an interface with adduced consolidated Court Order and Judgement of a 5 panel Honourable Justices of the Supreme court of Nigeria delivered on the 16/06/22. In the order herein attached, It is annotated that Shell is biding to divest it’s oil concessions in obstinate disobedience to the 3 pyramids competent jurisdiction, inclusive of the Supreme court of Nigeria.

“It is in the public domain that SPDC are seriously in top gear to violate the orders of courts hence they have concluded plans to divest its oil concessions and to foister a fait acompli on the judgement of the court if sustained in the Apex court.

“The Supreme Court has in three separate rulings ordered the SPDC and other parties in the case to maintain status quo rather than SPDC adhere to the order of courts has reached the final stage for the bidding of the oil facilities by way of divesting its oil concessions .

“The public is by this publication warned to desist from engaging with SPDC or its agents towards selling off of its assets in Nigeria. The flagrant disobedience to order of courts and infact Supreme Court of Nigeria is so worrisome , rather than guide against the disobedience to court orders, the alleged comptemnors are feigning ignorance of the happenings around their work place .

“Let the public be aware that there are pletoria of court orders from the highest court in the land and should not be used as instruments of disobedience to order of courts.

“As encapsulated evidence of section 2(2) (a) and 4(7) (c), public Library Act—Preaction/prewarning to the vast public.

“The public is hereby put to the strictest notice to renege, refraim or otherwise denounce any lease, bargain, or otherwise compromise to alienate any oil mining lease(OML), equipment, real estate/properties cars etc belonging to the Appellant, Shell Petroleum Development Company of Nigeria which is subject of litigation before the Supreme court of Nigeria,” he stated.



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