Tense courtroom drama takes a surprising turn as judge approves private settlement talks
On Thursday, May 29, Justice Frank Onyiri of the Rivers State High Court gave the green light for Zomay Marine and Logistics Limited and Sterling Bank Plc to pursue an out-of-court resolution in their high-stakes legal battle over unpaid debts.
The development unfolded during a resumed hearing in the case brought by the indigenous marine logistics firm against Sterling Bank, which had previously sealed the company’s offices in a forceful bid to recover debts.
During the proceedings, Frank Okpara, appearing on behalf of Chief Chris Okeke, SAN, told the court that both parties were leaning toward an amicable resolution.
“My Lord, there are indications that the parties intend to explore out-of-court options. We seek the leave of this honourable court to proceed accordingly,” Okpara stated.
Counsel to the bank, Michael Ofurum—standing in for Kunle Ogungba, SAN—voiced no objection.
“My Lord, that is the position. We are exploring an out-of-court settlement,” Ofurum confirmed.
After hearing both sides, Justice Onyiri adjourned the matter to Monday, June 30, 2025, giving the parties time to negotiate and potentially resolve the dispute without further litigation.
