A High Court of the Federal Capital Territory (FCT) on Wednesday fixed August 5, for hearing in a suit brought by the Asset Management Corporation of Nigeria (AMCON) seeking to stop the seizure of the aircrafts and other properties belonging to Arik Air Limited over $2.5 million indebtedness.
AMCON’ action followed Monday’s seizure of Arik aircrafts and other assets by the Atlas Petroleum International Ltd and its sponsor.
In it’s motion on notice, 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 motion 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.
Counsel to Atlas Petroleum Limited, Sabastine Hon, (SAN) 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.
“We are going on with the enforcement as permitted by the law, we will not flout the law or any order of court but as it is, the Minister of Aviation who was served with the enforcement orders has succeeded in grounding two aircrafts which are not related to the application AMCON brought to court to stop the enforcement.
Justice Olukayode Adeniyi, formally of the FCT High Court, but now on the bench of the Court of Appeal, 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.