Court Grants Zomay Marine, Sterling Bank Leave For Out-Of-Court Settlement In Debt Dispute

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

The development occurred during the resumed hearing of a suit filed by the indigenous marine services firm against the financial institution, following the sealing of its offices by the bank over alleged indebtedness.

At the hearing, counsel to the plaintiff, Frank Okpara—who appeared for Chief Chris Okeke, SAN—informed the court that both parties were inclined to resolve the matter amicably.

“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 submitted.

The defence counsel, Michael Ofurum, who held brief for Kunle Ogungba, SAN, confirmed the position, stating, “My Lord, that is the position. We are exploring an out-of-court settlement.”

Upon hearing both sides, Justice Onyiri granted the request and adjourned the matter to June 30, 2025, for a report on the outcome of the negotiations.