Nigerian Media Mogul Banned For Racking Up Unpayable Debt

Law360, London (April 8, 2021, 9:42 PM BST) -- A judge disqualified a Nigerian media mogul from running a company for seven years on Thursday after finding that his television company ran up huge debts over just a few years that it couldn't hope to repay.

Nduka Obaigbena caused his company Arise Networks Ltd., an African television network operating out of London, to trade to the detriment of creditors with no reasonable prospect of its debts being paid or of the company avoiding insolvent liquidation, High Court Judge Raquel Agnello said.

Judge Agnello said Obaigbena demonstrated "a lack of regard for and compliance with proper standards" by allowing Arise to...

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