Nigeria, July 1 -- The Federal High Court in Abeokuta, Ogun State, says it will give a speedy hearing to a suit challenging the sale and transfer of assets of Nigerian German Chemicals Plc (NGC PLC) by a consortium of banks.

The suit was filed by Okhueleigbe Aikpehae of Abraham, Thompsons & Co chambers on behalf of Atlantic Coast Regional Fund (ACRF).

According to court papers seen by Premium Times, the judge, Ibrahim Watila, made the pledge on Friday as he advised the parties to prepare their processes and responses to the various preliminary objections before the next sitting.

ACRF had sued the banks over the sale and transfer of assets of NGC PLC while the substantive suit in their dispute was still pending in court.

The respondent...