The Federal High Court sitting in Port Harcourt, Rivers State, has granted a Mareva injunction restraining Kofa Energy Limited, Redstar Oil & Gas Limited and Halkoff Logistics International Limited from withdrawing, transferring, selling or otherwise dissipating funds and assets up to the value of an alleged $1.602 million and N1.314 billion debt arising from crude oil storage, maritime and related services.
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Justice Stephen Dalyop Pam granted the interim order on Wednesday, September 23, 2026, following an ex-parte application filed by Gimbrowns Marine Security Oil and Gas Limited in Suit No. FHC/PH/CS/163/2026.
The plaintiff, through its counsel, Joseph Thangod Olulu, approached the court seeking orders to preserve the funds and assets of the three defendants pending the determination of its substantive application.
According to the court processes, the dispute arose from alleged unpaid charges connected with the charter, professional services and storage of 150,000 metric tonnes of crude oil aboard the plaintiff’s vessel, Barge MICLYN 301.
The services were allegedly provided at Cawthorne Channel 2 within Oil Mining Lease 18 (OML 18) in the Port Harcourt coastal waters.
In an affidavit deposed to by Patrick Otuya of Port Harcourt, Gimbrowns Marine Security Oil and Gas Limited alleged that the defendants failed to meet payment obligations arising from maritime, storage and security logistics services rendered in the Niger Delta offshore sector.
After considering the ex-parte application, Justice Pam restrained the defendants, jointly and severally, from withdrawing, tampering with, transferring or dissipating funds standing to their credit in any bank or financial institution in Nigeria, up to the value of the plaintiff’s claims.
The amounts covered by the order are $1,602,000 and N1,314,470,000.
The injunction also extends to other assets belonging to the defendants, whether movable or immovable, including shares held through financial institutions.
The court consequently restrained the companies from dealing with, selling, transferring or otherwise disposing of the affected assets pending further orders.
Justice Pam further directed commercial banks within the jurisdiction of the court to disclose on oath the exact balances standing to the credit of the three defendants within seven days of being served with the order.
A Mareva injunction is an interim preservative order designed to prevent a defendant from dissipating assets in a manner that could frustrate the enforcement of a judgment if the claimant eventually succeeds.
The order does not amount to a final determination that the defendants owe the sums claimed, as the substantive dispute remains pending before the court.
The case was adjourned to October 9, 2026, for mention, when the court is expected to proceed with arguments on the plaintiff’s motion on notice.
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