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Key highlights
- Controversy surrounds the takeover of Arik Air by AMCON, amid conflicting studies on the Federal Excessive Courtroom’s judgment.
- AMCON maintains that the judgment affirmed its takeover of Arik Air and didn’t have an effect on the airline’s operations or the powers of the Receiver/Supervisor.
- AMCON plans to attraction sure elements of the judgment however asserts that they haven’t any bearing on Arik Air’s continued operation.
The takeover of Arik Air by the Asset Administration Company of Nigeria (AMCON) is producing controversies, at the same time as the 2 organisations lay claims to the judgment delivered by the Federal Excessive Courtroom sitting in Lagos on Friday.
Whereas earlier information monitored by our correspondent alleged that the Federal Excessive Courtroom stopped the choice to switch Arik Air Restricted’s property to AMCON, a press release by a media advisor to AMCON debunked the declare, saying that the judgment affirmed its takeover of the airline.
AMCON’s interpretation of the courtroom ruling
The assertion from AMCON hinted that the Judgement clearly and with out equivocation affirmed that AMCON was competent and empowered to nominate the Receiver/Supervisor of Arik.
It additionally maintained that the appointment by AMCON was correct and that the continued operations of Arik weren’t affected.
AMCON insisted that the judgment didn’t have an effect on the operations of Arik or the powers of the Receiver/Supervisor to superintend the affairs of the airline. A part of the assertion stated:
- “The eye of the Receiver/Supervisor of Arik Air Restricted (in Receivership) (Arik) and the Asset Administration Company of Nigeria (AMCON) has been dropped at a number of on-line publications regarding a judgment of the Federal Excessive Courtroom, Lagos delivered on Friday, March 31, 2023 (the Judgment).
- “Most of the people ought to please word that the Judgement clearly and with out equivocation affirmed that AMCON was competent and empowered to nominate the Receiver/Supervisor of Arik, that the appointment by AMCON was correct, and that the continued operations of Arik will not be affected. Put merely: the judgment doesn’t have an effect on the operations of Arik or the powers of the Receiver/Supervisor to superintend the affairs of Arik.
- “Particularly, the judgment didn’t both: (i) rule in opposition to the appointment of the Receiver/Supervisor of Arik or (ii) “grant all of the prayers of the Plaintiffs” as said in sure on-line publications. The courtroom did maintain that the Receiver/Supervisor was obligated to behave in the most effective pursuits of Arik and different collectors – some extent that AMCON and the Receiver/Supervisor have by no means disputed.”
Attraction by AMCON
The company added that in any occasion, AMCON and the Receiver/Supervisor have been dissatisfied with sure elements of the judgment regarding its dealings in particular transactions regarding restricted property, stressing that AMCON was exercising its constitutional rights to attraction, in respect of those.
It reiterated that the problems underneath attraction had no bearing on the continued operation of Arik as an organization in receivership, noting that the courtroom had already affirmed this.
Simply on Saturday, some on-line media (mot Nairametrics), alleged that the Federal Excessive Courtroom sitting in Lagos had stopped the choice to switch Arik Air Restricted’s property by AMCON, to a different firm to take over their operations.
The ruling was allegedly given by Justice Ambrose Lewis-Allagoa of a Federal Excessive Courtroom.
What you must know
Arik Air, led by its founder Johnson Arumemi Ikhideits and Mary Arumemi Ikhide, co-plaintiff, dragged AMCON, its Group Head, NG Eagle Restricted; Tremendous Bravo Restricted, and Nigeria Civil Aviation Authority (NCAA) earlier than the Federal Excessive Courtroom over the taking-over of Arik Air Restricted’s property and administration.
Within the swimsuit, the plaintiffs prayed to the courtroom for 4 reliefs, which included a declaration that the obligation imposed on the first Defendant by Part 553 of the Firms and Allied Issues Act 2020 to behave in the most effective curiosity of Arik Air Restricted as an entire contains the obligation to behave in the most effective curiosity of the Plaintiffs as members of Arik Air Restricted.
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