Lagos: A Federal High Court in Lagos has ordered an interim administration for Green Energy International Ltd. and Lekoil Oil and Gas Investments Ltd. following their alleged failure to pay 25.5 million dollars debt. Justice Ambrose Allagoa appointed Mr. Chimezie Ihekweazu (SAN), an accredited insolvency practitioner, as the interim administrator for both companies during this period.
According to News Agency of Nigeria, the judge specified that Ihekweazu would perform all functions of an administrator, excluding the distribution of assets of the respondents. The interim administration is set to continue until a substantive suit on the matter is determined. Furthermore, Allagoa directed all banks and financial institutions regulated by the Central Bank of Nigeria to ensure that the respondents’ accounts are controlled by the administrator or his nominee.
The court’s decision followed an ex-parte application by H-PTP Energy Services Ltd., which sought restraining, mareva, and injunctive orders against Green Energy and Lekoil. The applicant claimed that the respondents failed to honor their 25.5 million dollars debt obligation.
H-PTL Energy Services Ltd. asserted that Green Energy and Lekoil owed it as joint venture partners in the Okatikpa Field under Petroleum Mining Lease 11, located in Andoni, Rivers. The company alleged that the respondents have been indebted since mid-2025 and have not settled the debt despite acknowledging it in writing.
H-PTP Energy Services Ltd. added that despite issuing demands and notices, the debt remains unpaid. It claimed the respondents had become evasive and were attempting to dispute the previously agreed debt. The company attached all bank accounts, receivables, and stock of crude oil belonging to and produced from the two creditors of the Okatikpa field to the application.