Mauritian Bank Handed Luxury Homes In $64M Loan Dispute

Law360, London (January 25, 2019, 4:13 PM GMT) -- The High Court in London has told a Mauritian bank it can take possession of two luxury properties in the English capital and the county of Sussex, handing a win to the lender in its battle over an allegedly unpaid loan of $64 million.

Investec Bank (Mauritius) Ltd. can sell the two properties without further consent from the court, Master Jervis Kay QC said in an order. The bank is suing Nigerian businessman Joseph Arumemi-Ikhide and property firms St Gregory Holding Ltd. and Ojemaie Properties Ltd., as well as other companies, for breach of contract over the allegedly outstanding debts....

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