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The Federal High Court in Lagos has upheld United Bank for Africa (UBA) Plc’s appointment of a receiver-manager and its mortgage safety in a debt restoration case involving Stallion Group, the Vaswani brothers and different defendants.
Justice Daniel Osiagor dominated in favour of UBA, granting the reliefs sought by the financial institution in the case, which dates again to October 2023, when it claimed N156.03 billion was owed.
The courtroom affirmed the appointment of Romeo Ese Michael as receiver-manager, together with his proper to take possession of the mortgaged property and search protecting orders. It additionally restrained the defendants from diverting receivables attributable to them from authorities companies.
Hassan Danladi is a blogger and copywriter based in Abuja. Over five years, he has built his work around one rule: get the facts right, then tell the story clearly. He writes news articles that put verified information first and explain what it means for readers in the capital and across Nigeria. His copywriting background helps him keep his reports simple, direct, and easy to follow.
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