Nigeria, Oct. 16 -- The Federal High Court in Lagos has ruled in favour of United Bank for Africa (UBA) in a N156 billion debt recovery suit against Stallion Group and its subsidiaries and upheld the appointment of the receiver/manager, Romeo Ese, by the bank as valid.

In a judgment delivered by Justice Daniel Osiagor on Friday, the court granted all the reliefs sought by the bank and affirmed its jurisdiction to hear the case.

It also affirmed the right of the receiver/manager to take possession of the mortgaged property, with the receiver/manager declared to be entitled to seek protective orders,

It also affirmed the right of the receiver/manager to take possession of the mortgaged property, the enforceability of the mortgage securit...