Unpaid Debt: Judge Grants Zomay Marine, Sterling Bank Leave To Settle Out-of-Court

Justice Frank Onyiri of the Rivers State High Court, has granted leave to an indigenous firm, Zomay Marine and Logistics Limited and Sterling Bank Plc, to settle their dispute over unpaid debts out-of-court.

Onyiri granted the leave yesterday at the resumed hearing of a suit brought against Sterling Bank by the indigenous firm, following the sealing of its offices by the financial institution.

Counsel to the plaintiff, Frank Okpara, who held brief for Chief Chris Okeke, SAN, had told the court that the parties were exploring the possibility of an out-of-court settlement.

Okpara said: “My lord, there are indications for parties to explore out-of-court. We are seeking the leave of this honourable court to enable parties settle out of court.”

Counsel to the defendants, Michael Ofurum, who held brief for Kunle Ogungba, SAN, however, did not oppose the submissions of the plaintiff’s counsel.

The judge adjourned the matter to June 30, 2025, to enable the parties involved to settle out of court.