GHL Directors Seek $1bn Each in Damages from First Bank for Defamation

Following Wednesday’s landmark victory for General Hydrocarbons Limited (GHL) at the Federal High Court in Lagos, which set aside an order of Mareva injunction freezing it’s assets in a suit with First Bank Holdings Plc, directors of the oil and gas company are seeking compensation.

GHL directors who were negatively affected by the ex parte freezing order have begun proceedings worldwide against First Bank, seeking $1 billion each in damages for defamation and wrongful freezing of their accounts.