By Innocent Anaba

LAGOS—A Federal High Court sitting in Lagos, has restrained the Directors  and  agents of BSS Steel Rolling Mill Limited, from accessing any sums of money standing to the credit of the company until the sum of N346,798,405,96 plus interest owned by the company to Guaranty Trust Bank was fully liquidated.

The court also restrained the Directors and agents of the company from obstructing Mr Norrison Quakers, SAN, duly appointed by Guaranty Trust Bank from exercising his power and performing his duties as Receiver /Manager over the assets of the company covered by deed all assets of debenture.

The order was sequel to a debt recovery suit before the court by Quarkers on behalf of the bank as Receiver /Manager to recover the sum of N346,798,405.95, between May 11, 2009 and March 2010, the various credit facilities granted to BSS Steel Rolling Mills in the sum of #400million, the loan was accepted by Otunba Ayoola Abioye as Chief Executive Officer on  behalf of the company.