A High Court of the Federal Capital Territory (FCT) has fixed August 5, for hearing in a suit seeking to stop the seizure of the aircrafts and other properties belonging to Arik Air Limited over $2.5 million indebtedness. The Asset Management Corporation of Nigeria (AMCON) brought the motion on notice to the High Court sequel to Monday’s seizure of Arik aircrafts and other assets by the Atlas Petroleum International Ltd and its sponsor.
AMCON is seeking to stop the continued seizure of the Arik Airlines properties on the grounds that the airline was already under another receivership following its indebtedness to Zenith Bank Plc to the tune of N37 billions. However, Justice Iheme Nwosu, could not proceed with hearing and determination of the AMCON’s suit against the seizure of the aircrafts following the discovery that the Deputy Sheriff was not served with the motion as required by law.
Deputy Sheriffs are officials of high courts who enforce and execute judgements of courts as stipulated by law. Justice Nwosu subsequently fixed August 5 and 12 for hearing of the AMCON’s motion. Speaking with journalists shortly after the proceedings, a Senior Advocate of Nigeria and counsel to Atlas Petroleum Limited, Sebastine Hon, confirmed that AMCON filed the motion seeking to stop the enforcement of the order against Arik Airline over its huge debt to Atlas Petroleum.
The senior lawyer observed that while his clients were in the process of enforcement, AMCON surprisingly, I will say came to intervene that Arik Air is under receivership when they were aware of the matter right from the Lagos High Court to the Supreme Court and the judgments were given against Arik. A former judge of the FCT High Court now in Court of Appeal, Justice Olukayode Adeniyi had on June 26, 2024, issued an order directing the attachment and sale of all movable properties of the Arik Air Limited found within the jurisdiction of the court.
Consequently, the judgement creditor in enforcing the order of the court had seized aircrafts, aircrafts hangers, especially Boeing 737 with registration numbers: B737.700/5N-MJF, B737.800/5N-MJQ, DASH8.Q400 and 5N-BKK in satisfaction of the $2.5 million debt against the airline.
