Federal High Court Adjourns Shell-Femab Debt Case to April 29
Federal High Court in Lagos adjourns winding-up case between Shell East Staff Investment Cooperative Society and Femab Properties Limited to April 29, 2026. The court fixed the date for hearing all processes connected to the N96 million debt dispute. Femab Properties Limited faces winding-up petition over alleged outstanding debt from Shell East Staff Investment Cooperative Society. Shell East claims N96 million balance remains from N850 million land purchase agreement for Shell Estate Development at Oniru, Lagos. Femab denies indebtedness, stating payments negotiated at 50% interest rate. Court created Insolvency Unit in 2015 to handle company restructuring cases. Both parties present conflicting claims about financial status and contractual obligations.