First Bank appeals court order, says General Hydrocarbons’ oil cargo remains detained

The First Bank of Nigeria said it has appealed the Federal High Court Port Harcourt’s decision to dismiss the suit it initiated against General Hydrocarbons, an energy firm.

In a statement Tuesday night, the lender disagreed with the court’s decision, which determined that the matter in contention is not a maritime claim but a debt recovery case.

The bank expressed dismay at the court’s declaration that the arrest order against the cargo on the FPSO expired by effluxion of…