Trustee console
6
Folake Adebanjo Director of Trust Operations

Matters · Dispute hold · Vantage SME Capital Partners

MTR-2026-0142

High severity · Held
MandateTRST-2026-0512
Affected release₦240,000,000
Raised13 Jul 2026
Time against SLA2 days remaining

What happened

Vantage SME Capital Partners disputes the completion accounts submitted in support of the acquisition of Bluewave Logistics Limited, alleging a working-capital adjustment of approximately ₦14,000,000 was omitted. Vantage has instructed the trustee to hold the completion release pending resolution between the parties.

Affected mandate

Mandate

TRST-2026-0512 — Acquisition completion escrow

Affected tranche

Completion release — ₦240,000,000

Settlor

Vantage SME Capital Partners

Beneficiary

Shareholders of Bluewave Logistics Limited

Current hold state

This dispute freezes only the completion release on TRST-2026-0512. It has no effect on any other mandate. Nothing auto-releases on timeout — silence fails closed. The hold remains in place until the trustee receives joint written instruction from both parties, or a court or arbitral order.

Correspondence

Vantage SME Capital Partners — Deal Counsel 13 Jul 2026 · 10:20 WAT

We instruct the trustee to hold the completion release. The completion accounts omit a working-capital adjustment of approximately ₦14,000,000 agreed in principle during diligence. We are seeking a revised statement from the Sellers before completion can proceed.

Aisha Bello — Counsel 13 Jul 2026 · 15:05 WAT

Hold confirmed on the completion release only. All other mandates and matters for this client are unaffected. Written instruction acknowledged and logged to the mandate file.

Bluewave Logistics Limited — Sellers' Counsel 17 Jul 2026 · 09:40 WAT

We do not accept that the adjustment was agreed. We are preparing a response with supporting schedules and expect to revert within five business days.

Aisha Bello — Counsel 22 Jul 2026 · 11:10 WAT

Noted. The trustee remains neutral pending resolution or joint instruction. SLA clock unaffected by ongoing negotiation.

Resolution actions