First Bank: Med-View Airline Laments Takeover Of Multi-billion Naira Properties

Med-View Airline has reponded angrily to the take over of its properties by First Bank of Nigeria, FBN Limited. The bank seized some properties belonging to the airline over an alleged N4 billion debt owed to the commercial bank.

The bank had on Monday sealed up two properties in Ikeja and Lekki belonging to the local airline, in clear violation of due process, according to the management of the troubled airline.

This, apperently, did not go down well with the airline which said its properties were taken over illegally by Nigeria’s premier bank.

The airline accused the bank management of taking law into their hands by misinterpreting a court judgement over the issue.

Reacting to the take over, Lawal Pedro, a senior advocate of Nigeria, SAN, and counsel to Med-View said First Bank’s action amount to an invasion, adding that the manner the commercial bank came descended on its properties with policemen violated ongoing court proceedings on the matter.

He cited a copy of the ex-parte order made by Justice Lawal Akapo in Suit No. ID/6251/GCMW/22 which was delivered on November 22, for instance, insisting that the judge did not order the bank to take possession or seal the properties belonging to the airline.

Rather, he said Justice Akapo ordered the preservation of the assets of the airline, from the sale or other alienation pending compliance with the pre-action protocol procedure by First Bank and is yet to file an action in respect of the alleged debt.

The counsel also said that Justice Oluyemi in Suit No ID/6241/GCMW/ 22 and ID/ 6243/ GCMW/22 in ex parte orders secured by the bank on November 22 only gave an order for the bank to take over the residence of the managing director of the airline, at Olabanji Olajide Street off Admiralty way Lekki Phase 1, pending compliance with pre-action protocol procedures by the bank.

Lawal said it was wrong for the bank to take over the properties at a time the two parties are working out “amicable resolution” on how Med-View will repay the debt.
The counsel said: “We have held meetings with the bank officials and exchanged correspondence on amicable resolution of any outstanding debt and for the parties to resume normal banking relationship.

“So, it came to us as a rude shock this morning (Monday) when policemen invaded our clients’ properties in Ikeja and Lekki, chased everyone away, and sealed the properties as if the final judgment had been awarded in favor of the bank on the alleged debt.

“We believe that this is an illegality and an institution like First Bank, with the full complement of the legal department and which we hold in high esteem, should not be involved in this type of action. We are taking appropriate steps to seek justice and remedy for our clients by due process of law.”

In November, the federal government said Med-View no longer has a valied license to operate as a carrier. The airline is also the only Nigerian airline to be listed in the List of air carriers banned in the European Union, EU.

Folake Ani-Mumuney, First Bank Group Head, Marketing and Corporate Communications has yet to respond to text messages sent to her to reponded to the issue, neither did she repond to telephone calls .