Nigerian Mogul Cleared To Fight Ban For Insurmontable Debts

By Christopher Crosby (December 16, 2021, 1:10 PM GMT) -- A London judge ruled Thursday that a Nigerian media mogul could fight his ban on running a company, saying that he had an arguable case that the penalty would last too long.

High Court Judge Timothy Fancourt handed Nduka Obaigbena permission to appeal a decision barring the businessman from operating a company for seven years for mounting unplayable debts. 

The ruling followed arguments by Hugh Sims QC, counsel for the businessman, that High Court Judge Raquel Agnello had misunderstood the law. She had found that Obaigbena's company, Arise Networks Ltd., an African television network operating out of London, had no reasonable prospect of paying its debts avoiding insolvent liquidation....

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