Loan default: Skye Bank, First Bank takes over Evan Medical assets

 

THE Federal High Court sitting in Lagos has asked Skye Bank Plc and First Bank of Nigeria Limited to take over the board of Evans Medical Plc.
The Court make the verdict as Evans Medical Plc failed to repay the facilities they took from the lender’s.
According to the notice sent to the Nigerian Stock Exchange (NSE) in Lagos by Company Secretary of Evan Medical, Mrs. Adesua Akintemi, “Skye Bank Plc and First Bank Limited have served the company with an Ex-parte order of the Federal High Court dated 4th July, 2017 granting them the right to take over the company’s assets used as collateral against facilities granted to the company by its bankers due to loan default.”
However, the lender’s have appointed a Receiver Manager and has taken over the assets of the company.
She said, board of Evans Medical has begun discussions with two lender’s with a view to arriving at an amicable resolution of the matter discussions are progressing favorably, saying Evans Medical Plc are optimistic that a mutual beneficial workable arrangement will be arrived at between the banks and the board as soon as possible in order to safeguard the company’s properties and assets as well as protect the shareholders investments.