Court Lifts Mareva Orders in Green Energy and Lekoil Case

The Federal High Court sitting in Lagos has lifted Mareva orders that previously restricted the operations of Green Energy and Lekoil. This decision allows the companies to continue their normal operations without interruption.

The court has adjourned the matter to April 22, 2026, while maintaining the status quo concerning the appointment of an interim administrator. The court's ruling suspends further activities related to the interim administration and lifts restrictions on the companies' bank accounts.

The companies are expected to remain compliant with regulatory and contractual requirements during this period. The statement from the management indicates that they will continue to pursue jurisdictional challenges against arbitration proceedings in accordance with the governing agreement for the Otakikpo PML 11.

The court's order reflects a commitment to uphold the status quo ante bellum until the determination of the pending application.