AMNI Refutes Receivership Claims, Says Court Order in Cenroc Dispute Misrepresented
- AMNI dismisses receivership claims; insists court order only pertains to administrative functions
- Company challenges appointment and seeks stay of execution amid ongoing legal proceedings
- Business operations remain unaffected as AMNI continues to meet obligations during the dispute
AMNI International Petroleum Development Company Limited has dismissed reports claiming that a Receiver-Manager has been appointed over the company in connection with an ongoing dispute involving Cenroc.
In a formal clarification, AMNI described the reports as inaccurate and materially misleading, insisting that the Federal High Court order does not constitute a receivership.
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According to the company, the court order relates only to a limited appointment as Administrator for specific and defined purposes linked to an alleged indebtedness. It stressed that any suggestion that full managerial control of the company has changed hands is incorrect.
What the court order actually means
AMNI explained that the order, as drawn, does not transfer operational control or establish a receivership structure over its business. Rather, it concerns a restricted administrative function tied to disputed claims.
The company maintained that public representations portraying the situation as a takeover misstate the scope and legal effect of the ruling.
It added that the validity, scope, and implications of the appointment are now under appellate review.
Appeal and applications pending
AMNI confirmed that it has exercised its constitutional right to challenge the decision. An appeal has been duly filed before the Court of Appeal, alongside applications seeking a stay of execution and injunctive relief.
These applications, the company noted, are currently pending and have not yet been determined.
AMNI expressed concern over what it described as premature public declarations implying finality or a loss of control, despite ongoing judicial proceedings aimed at preserving the status quo.
The company warned that such statements risk creating a misleading public impression that does not reflect the current legal reality.
Dispute centers on commercial transactions
The underlying conflict stems from contested commercial transactions, which AMNI says it is challenging vigorously.
Central to the dispute are questions relating to corporate authority and prior approvals. AMNI maintains that the allegations of unauthorized approvals are strongly contested and form part of the substantive issues now before the appellate court.
By taking the matter to appeal, the company signaled its determination to seek judicial clarity on both the administrative appointment and the broader commercial claims.
Business continues as usual
Despite the legal proceedings, AMNI stated that it continues to operate in the ordinary course of business. The company reaffirmed its commitment to meeting all regulatory, contractual, and operational obligations.
For clarity, AMNI outlined its position:
- An appeal has been filed.
- Applications for stay of execution and injunctive relief are pending.
- The scope and validity of the administrative appointment are under active legal challenge.
- Allegations concerning corporate authority and approvals are disputed.
AMNI emphasized that until the appellate court reaches a determination, any assertion that the company is under receivership or has lost managerial control is unfounded.
As the legal battle unfolds, the focus now shifts to the appellate court, where the next phase of the dispute will be decided.
Appeal court gives verdict on ABU Zaria's N2.5bn payment
Legit.ng earlier reported that the Court of Appeal in Abuja has upheld the judgment ordering Ahmadu Bello University (ABU), Zaria, to pay over N2.5 billion in salaries and entitlements to 110 disengaged staff members
This brings to an end the long-running dispute that started with their termination in 1996.
In two unanimous judgments delivered on Friday, a three-member panel led by Justice Okon Abang dismissed separate appeals filed by ABU and the Central Bank of Nigeria (CBN) and ordered the apex bank to immediately release the judgment sum to the affected workers.
Source: Legit.ng
