BusinessAviationDebt Judgement: NAMA Grounds Arik Air Aircraft

Debt Judgement: NAMA Grounds Arik Air Aircraft

spot_img

By Ayodele Oni

Access Bank Advert

Arik Air’s Commercial activities have been put on hold following the decision by Nigerian Aviation Authority to ground its aircraft over a disputed $2.5 million debt.

According to the Nigerian Airspace Management Agency (NAMA),  the action follows an order from the enforcement department of the FCT High Court, related to Arik’s $2.5 million debt to Atlas Petroleum International Ltd.

UBA

It stated that “On the 19th day of July, 2024, the Enforcement Department of the FCT High Court enforced an Order made by the Court regarding a debt of $2.5 million owed by Arik Airline to one  Atlas Petroleum International Ltd. by attacking their aircrafts.

“Arik was further given a notice of Public Auction of the planes by the Court which was slated to hold on the 26th day of July 2024 if they fail to pay the Judgment debt. All these were served on our agency and also on our Supervising Minister, the Minister of Aviation.

READ ALSO:  National Grid Collapse: NEC Constitutes Committee To Address Power Sector Challenges

“The records show that on the 8th day of March, 2016, the Judgment Debtor (ARIK) appealed the decision of the High Court of Lagos State entering judgment against it to the Court of Appeal and on 30th September, 2021, the appeal was dismissed by the Court of Appeal in a unanimous decision with cost.

“Arik again appealed to the Supreme Court for leave to appeal the decision of the Court of Appeal, and on the 9th day of January, 2024, the Supreme Court, per Okoro, J.S.C., delivered its Ruling dismissing the Judgment Debtor’s application for leave to appeal.

“The Judgment Creditor registered the Judgment of the Lagos State High Court in The High Court of FCT and On the 26th day of June, 2024, Honorable Justice O. A. Adeniyi, then sitting in Court 8, Maitama, Abuja)  made an order after hearing Motion No: M/9785/2024 filed on  behalf of Atlas Petroleum attaching all the moveable properties belonging to the Judgment Debtor, including the Judgment Debtor’s aircraft with Registration No: B737-700/ 5N-MJF, B737-800/ 5N-MJQ, DASH8-Q400 and 5N-BKX in satisfaction of the judgment debt.

READ ALSO:  Jigawa Appoints 120 Special Assistants To Boost School Monitoring

“Copies of the Order and Certificate of Judgment were also served on us and the Minister.

“We understand too that Arik has obtained an exparte order stopping further execution of the order, though we have not been formally served.

“In the circumstances, since the first execution took place by attacking the aircrafts, further execution by way of sale can be halted whilst the parties go back to court to resolve the issues.

“However, in order to preserve the subject matter of the present dispute which are the aircrafts in question (the res), which have already been attached, we have decided to comply with the effect of the Supreme Court order, by grounding the aircrafts (subject of dispute) so that they are not taken out of the jurisdiction of the court or tampered with in a way as to frustrate the Courts.

READ ALSO:  BREAKING: Simon Ekpa Arrested, Charged With Terrorism

“Furthermore, the Minister, being a member of the Inner Bar himself understands the implication of the Supreme Court Order dismissing the motion for leave to appeal and will not risk his license as a legal practitioner or his privilege as a Senior Advocate of Nigeria by engaging in acts that will frustrate an order of the Supreme Court of Nigeria.”


Discover more from The Source

Subscribe to get the latest posts sent to your email.

Share your story or advertise with us: WhatsApp: +2348174884527, Email: [email protected]

Your Comment Here

More articles

Discover more from The Source

Subscribe now to keep reading and get access to the full archive.

Continue reading