AMCON Takeover: Arik Air Vows to Challenge Action in Court

February 10, 2017

 

Following the Thursday's takeover of Arik Air by the Assets Management Company of Nigeria (AMCON), the management of the airline said it would challenge the taking over of the airline in court.

 

Senior Vice President, Arik Air, Ado Sanusi, disclosed this at a press conference jointly held with the newly appointed receiver manager, Oluseye Opasanya, as well as the airline's technical consultant, Roy Ilegbodu.

 

According to Mr. Sanusi, Arik Air had been served with a valid court order empowering AMCON to take over the company.

 

"As responsible citizens, we have obeyed the court order which appointed the Olaniwun Ajayi (SAN) as the receivership manager.

 

"We will comply but I want to make it clear that we have a right to challenge the court order.

 

"In the coming days, we will make our position known. It is a court order and we can challenge it and we will challenge it to the highest court of authority," Mr. Sanusi said.

 

In his own submission, the receiver manager argued that AMCON's action was in favor of Arik Air as the action was meant to rescue the airline.

 

He said that though the parties involved had agreed that the Airline would continue to operate without disruptions, the airline would go ahead to challenge the takeover in court.

 

"The debt of Arik to AMCON has not been paid and huge sums of money is owed.

 

"So AMCON, having consulted widely with government authorities, has decided to appoint me to preside over the affairs of Arik.

 

"So we have come to supervise the operation, sustain the operation, improve services and ensure that we support Arik with people of deep knowledge, experience and commitment in the airline industry."

 

"AMCON has been a creditor to Arik for sometime. It also has security over substantial parts of the assets of Arik" Mr. Opasanya said.

 

"We have addressed the workers and the management and we want to assure other stakeholders and members of the public that the desire of AMCON is to keep the airline flying.

 

"AMCON is willing to support the operation of Arik and together with the government, work to meet the immediate essential needs of the company, "he said.

 

On his own part, the airline's technical consultant, Roy Ilegbodu said Arik had 28 aircraft in its fleet but only 10 were currently being used for operations.

 

He said his duty as technical consultant was to get to the root of the problems that have befallen the airline with a view to ensuring its sustainability.

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