Chief Abdulmalik Ora Egbunike (FNIVS) has been appointed receiver to several companies and
    the performance has been credible. Notable among which are:

(i) Pressed Metal Works Limited – in receivership Ijora, Lagos (2000)
    Receivership assignment carried out on behalf of Universal Trust Bank Plc and Liberty Bank Ltd.
    jointly to recover N83,000,000.00 (eighty three million naira). The company’s assets were sold for 
    N53 million.

(ii) Tempo Mills Limited – in receivership, Ezinmunya, Onitsha Anambra State. (2000) Receivership 
     assignment to recover the sum of N91,000,000.00 (ninety one million naira) for
     Equitorial Trust Bank Limited. The entire sum was realised together with accumulated interest for
     the Bank.

(iii). Polfa Pharmaceutical Company Limited – in receivership – Isolo, Lagos (2000)
        Receivership assignment to recover over N15,000,000.00 (Fifteen Million Naira) for Equitorial
       Trust Bank Ltd. The assets of the company was sold for about N7,000,000.00 (seven million 
        Naira).

(iv) Zodiac Industries Limited – in receivership, Ijaninkin, Agbara (2001)
      Receivership exercise on behalf of Equitorial Trust Bank Ltd. The total sum of N170,000,000.00
     (one hundred and seventy million Naira) was realised after sale of fixed and floating assets of the
      company.

(v) Finishing Marble Products Nigeria Limited – in receivership, Oshodi, Lagos. (2002)
     Receivership exercise on behalf of Equitorial Trust Bank Ltd. Total sum of N109,630,568.00 (one
     hundred and nine million, six hundred and thirty thousand, five hundred and sixty eight naira) was
     realised for the Bank at the end of the exercise.

(vi) Choice Finishing and Furnishing Company Limited – in receivership, Victoria Island, Lagos.
      (2002) Receivership exercise was carried out on behalf of Devcom Bank Limited to recover 
       outstanding sum of N15,000,000.00 (fifteen million naira). The entire sum was fully recovered.

(vii) Ozigbu Engineering Construction Company Limited – in receivership, Port Harcourt. (2004)
       Receivership assignment on behalf of Equitorial Trust Bank Limited. The exercise is on-going
       and the debtor has paid N17,000,000.00 (seventeen million naira) so far out of a total of
       N45,000,000.00 (forty five million naira).

(viii) Poat Engineering Company Limited – in receivership, Ibadan, Oyo State. (2003)
        Receivership exercise was carried out on behalf of Equitorial Trust Bank Limited. The exercise is
        ongoing and over N200,000,000.00 (two hundred million naira) has been realised so far out of
        N252,000,000.00 (two hundred and fifty two million naira) owed.

(ix) Best Oils Limited – in receivership, Ibadan, Oyo State. (2004) Receivership exercise was carried 
      out on behalf of Equitorial Trust Bank Limited, Zenith Int. Bank Plc and Wema Bank Plc jointly and
      the exercise was successful for the Banks. 

(x) General Electronics Communication Limited – in receivership, Gbagada, Lagos. (2003)
      Receivership exercise was carried out on behalf of Equitorial Trust Bank Limited. Total sum of
      N8,000,000.00 (eight million naira) was realised after the waiver granted by the Bank on the sum
      of N14,000,000.00 (fourteen million naira) outstanding.


(xi) Azeez Ayinla Nigeria Limited – in receivership, Ibadan, Oyo State. (2004)
      Receivership assignment is being carried out on behalf of Devcom Bank Limited. The exercise is 

      ongoing.

(xii) Premier Agro Oils Ltd – In Receivership, Ibadan, Oyo State (2005).
       The receivership exercise which is ongoing is on behalf of Zenith Int. Bank Plc, Trans 
        Int. Bank Plc and Equitorial Bank Limited jointly. Bids have been received from
        interested buyers of the company’s assets.

Ora Egbunike & Associates has put in over 14 years working experience in all aspects of the practice in the profession.  Below are some of the job experience we have had over the years: <<Back