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A/Court Seizes Zenon Petroleum Property Over Unpaid Judgement Debt
Bennett Oghifo
The Court of Appeal, Lagos Division, on the 26th day of June 2025, issued an interim order of attachment over Zenon’s property located at 7, Tiamiyu Savage Street, Victoria Island, Lagos, over an unpaid debt between a British National, Mr James Lloyd-Jennings, and Zenon Petroleum and Gas Limited (“Zenon”).
In the Court of Appeal Lagos Judicial Division Holden at Lagos
Appeal No: CA/LAG/CV/627/2025
Suit No: LD/2730/2019 between Zenon Petroleum and Gas Limited…Appellant; and James Lloyd-Jennings…Respondent/Applicant; Asset Management Corporation
Of Nigeria… Respondent.
The Appeal Court also restricted Zenon and the public at large from dealing with the property by any means, until a Motion on Notice seeking similar orders can be heard, or risk facing the consequences of their non-compliance.
The “Motion Ex-parte dated and filed on 16th June, 2015 for the following: An Order for the interim attachment of the Appellant/Respondent’s property situate at 7, Tiamiyu Savage Street, Victoria Island, Lagos, also known as Plot 1399A Victoria Island, Lagos), pending the hearing and determination of the Motion on Notice herein seeking an Order for the interim attachment of the subject property, pending such time as the appeal herein is allowed or the issuance of a writ of execution against the immovable property of the Appellant/Respondent
An Order of interim injunction restraining the Appellant/Respondent, whether by itself, or through its agents, privies, affiliates, representatives or any other persons howsoever, from taking any steps, or any further steps, towards selling, alienating, transferring, registering dissipating, disposing of, mortgaging, charging or, in any way whatsoever, interfering with, affecting or encumbering all or any portion of the Appellant/Respondent’s property situate at 7, Tiamiyu Savage Street, Victoria Island, Lagos, also known as Plot 1399A Victoria island, Lagos, or its title therein, pending the hearing and determination of the Motion on Notice herein seeking an Order for the interim attachment of the subject property, pending such time as the appeal herein is allowed or the issuance of a writ of execution against the immovable property of the Appellant/Respondent.”
The Appeal Court stated that “It is hereby ordered as follows:
That the application is granted as prayed pending the determination of the Motion on Notice which is fixed for 8/7/25. The Appellant and 2nd Respondent to be duly served before that date.”
It was signed by Musa Mohammed Imam, Esq, Deputy Chief Registrar; A. M. Ayoade, Assistant Chief Executive Officer (Lit) Court Of Appeal Lagos.
On 8th April, 2025, following the conclusion of an action for the recovery of a contractual debt filed by Mr Lloyd-Jennings against Zenon and the Asset Management Company of Nigeria (AMCON) at the High Court of Lagos State sometime in 2019, the High Court, in delivering its Judgement, ordered Zenon to pay Mr Lloyd-Jennings the sum of $1,800,000, being the Agency Fee he is entitled to under an aircraft purchase arrangement. Unhappy with the High Court’s Judgement, Zenon approached the Court of Appeal to challenge it.
Following an ex parte application made to the Court by Mr Lloyd-Jennings, the Court of Appeal ordered the temporary attachment of Zenon’s Victoria Island property, pending the outcome of a Motion on Notice seeking similar prayers.
According to Court papers, the temporary attachment of the property is crucial in the circumstances, to ensure that Mr Lloyd-Jennings would be able to obtain recovery of the Judgement debt if Zenon’s Appeal proves unsuccessful. The Court papers reveal, further, that Zenon is allegedly mired in huge debts and the property which the Court has attached is its only visible asset.
Affidavits filed by Mr Lloyd-Jennings alleged that Zenon, by an unregistered Deed of Gift, is in the process of transferring its interest in the property. The completion of this exercise, which is imminent, the Court papers stated, would, in the light of Zenon’s alleged financial incapacity, make it virtually impossible for him to realise his Judgement, if the transfer is allowed to continue unabated.
When approached for comments, lawyers for Mr Lloyd-Jennings from the Law Firm of CLP Legal described the intervention of the Court of Appeal as timely and just, in the circumstances. They explained that the orders made are an affirmation of the rule of law by ensuring that the rights and interests of all parties involved are protected while the legal dispute is being resolved.
All efforts by THISDAY reach the solicitors of Zenon to comment on the issue were unsuccessful, as they did not answered telephone calls or respond to text messages.
