$4.6m Debt: Lionstone Offshore Denies Indebtedness, Alleges False  Representations



Wale Igbintade

The Chairman and Chief Executive Officer of Lionstone Offshore Services Limited, Mr. Amaechi Ndili, has denied owing Hercules Offshore Nigeria Limited to the tune of $4.6 million.

Ndili alleged that there were false representations in the precise nature of the business relationship between his company, Lionstone Offshore Services Limited (LOS), and Hercules Offshore Nigeria Limited.

Ndili and his wife, Njide, have been arraigned before the Special Offences Court in Lagos over a business dispute between their company and Hercules Offshore Nigeria Limited.

The defendants were alleged to have fraudulently converted the sum of $4.6 million for their personal use said to belong to Hercules Offshore Nigeria Limited.

However, Ndili in a court document stated that he was led to believe that he was effectively the exclusive local partner, and would continue to be, and that the formal confirmation of this in the form of an appropriate corporate structure…

Source: Thisday Newspaper