Our client found themselves facing a daunting ₦492 million debt claim from AMCON, stemming from credit facilities originally granted by Access Bank. Before the case had been thoroughly heard, the evidence properly tested, or any judgment rendered, AMCON obtained interim possession orders and sold our client's assets to a third party.
We immediately challenged the validity of this asset sale, arguing that the enforcement action was both premature and procedurally flawed. We mounted a robust defence focused on the core issue: our client maintained that the alleged debt had already been fully discharged. But we didn't stop there. We also filed a counterclaim that highlighted AMCON's own questionable conduct in the matter.
Our strategic pressure paid off. Ultimately, both parties reached a mutual agreement. Terms of Settlement were filed and accepted as the court's judgment, securing a resolution that protected our client's commercial interests and brought a definitive close to the dispute.
