A High Court of the Federal Capital Territory, Abuja, under the jurisdiction of Justice Edward Okpe, has issued a Mareva injunction against eight financial institutions.
The injunction restrains these institutions from transferring, dealing with, or disposing of any funds related to the Defendants in a suit filed by Bablink Resources Nig. Ltd.
The order, granted upon hearing an exparte motion on December 13, 2023, prohibits financial transactions pending the determination of the substantive suit marked FCT/HC/CV/589/2023.
In the substantive suit, Bablink alleges joint action with Defendants Brentex Petroleum Ltd. and China Petroleum Pipeline Engineering Co. Ltd. in forming the unincorporated Brentex-CPP Consortium. This consortium successfully secured a contract for the Engineering, Procurement, and Construction (EPC) of a section of the Ajaokuta-Kaduna-Kano Gas Pipeline Project.
Bablink seeks a declaration that it contributed significantly to the consortium’s bid and demands at least 30% of the net profit from the performed contract portion. The Claimant insists on compensation of ₦10,000,000,000.00 (Ten Billion Naira) for exclusion from the contract, citing unjust, unfair, callous, and unconscionable actions by the Defendants.
The Claimant further requests a declaration affirming its contribution to winning the AKK Gas Pipeline Project and entitlement to project management services or a share in the profits. Bablink aims for a perpetual injunction, preventing Defendants from sourcing materials outside Nigeria, violating industry content laws.
They also seek to halt engagement with unqualified local companies and contractors.
Bablink pursues ₦500,000,000.00 (Five Hundred Million Naira) in damages for reputational loss, with an additional ₦1,000,000,000.00 (One Billion Naira) for breach of the parties’ agreement in winning the contract.
The lawsuit includes a demand for post-judgment interest of 25% per annum until the final settlement. Bablink seeks an order allowing them to undertake the remaining construction and pre-commissioning works of the contract.
The charges:
