Court orders sale of seized vessel MV "REGINA"

A Model of the MV Ultra Regina Vessel

A Model of the MV Ultra Regina Vessel

Akin Kuponiyi

A Model of the MV Ultra Regina Vessel
A Model of the MV Ultra Regina Vessel

‪A federal High Court, sitting in Lagos, southwest, Nigeria, has ordered the Admiralty Marshall to Commission the valuation and sale of a vessel ‘MV Regina’, which is lying at Lagos Port under the lawful custody of the court, pursuant to an order of the court.‬

‪The court presided over by Justice Chukwujekwu J. Aneke, also ordered that the proceed of the sale be deposited in an interest yielding fixed deposit account with First Bank of Nigeria Plc.‬

The court order was sequel to a motion on notice filed by a marine company, Tubbs Marine and Energy Limited, owner of the Mt “Sir Michael”.‬ against the defendant vessel MV “REGINA”

‪The marine company, in an affidavit in support of its application deposed to by one Boyede Olorunfemi, and filed before the court by its counsel, Adewale Adebukunola of Dayspring Law Firm, averred that on or about December 23, 2011, Tubbs Marine and Energy Ltd Owners of Mt “Sir Michael” took out a writ of summon against the defendant vessel and simultaneously, with the issuance of the writ of summon, the applicant applied for and obtained an order/warrant to arrest, detain the vessel, MV Regina, to secure the applicant’s claim, pending the determination of the substantive suit on merit.‬

The deponent averred that the order was served on the vessel since then and it is now more than six months, and the owner of the vessel, MV “Regina”, have not take any steps in the matter to provide defence in the matter and that the bailiff of the court has duly served the order of arrest on the defendant and since the service of the said court order, the defendant have done nothing either to pay their indebtedness or secure the claim in the matter.‬

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Mr Olorunfemi also averred that counsel appearing for the parties in the suit have carefully/duly considered the vessel being sold and the proceeds of the sale kept in a profit yielding account with First Bank Plc, pending the determination of the substantive suit. He added that for each day the vessel is lying at the anchorage and not in service, it is deteriorating and diminishing in value and is at the risk of sinking.‬

Mr Adebukunola averred further that he knows for a fact that the defendant have no money to pay for the claim that has fallen due to the applicants otherwise they could have done so by now and unless the application is granted the vessel will be lost and the plaintiff would have lost out completely.‬

He stated further that by the reason of the defendant’s failure to provide bail for the release of the vessel or pay the claims, damages, and losses inflicted on the plaintiff, and it is in the interest of justice to grant the application as the defendants will have nothing to suffer since any excess from the proceeds of the sale shall be paid to the defendants by the admiralty Marshall, if judgment is given in their favour in the matter.‬

In his ruling Justice Chukwujekwu Aneke, after hearing Adewale Adebukunola, counsel for the plaintiff move in terms of the application and applicant present in court and C. L. Ilogu SAN with K. Tsumba (miss) counsel for the defendant not opposing the application said “It is hereby ordered as follows:

(a) That an order is hereby granted directing the Admiralty Marshal to commission the valuation and sale of the MV”REGINA” which is the subject matter of this claim,which is now lying at Lagos port under the lawful arrest pursuant to order of this honourable court and which vessel is named as the defendant herein.

(b) That an order is hereby granted that the proceeds of sale should be deposited in an interest yielding fixed deposit account with First bank of Nigeria Plc,pending the determination of this suit and the said proceeds of sale together with accrued interest to be applied to satisfy the judgment and the costs given in this matter and for such order or further orders as to this honourable court may deem fit to make in the circumstances.

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