Bi-Courtney Replies AMCON:You Owe Us N132b



By Chuks Okoh
Bi- Courtney Aviation Services Limited ( BASL) said Monday that the Asset Management Company of Nigeria ( AMCON) and the Federal Government owes it over N132billion by virtue of a subsisting 2011 ruling of the Federal High Court.
Disclosing this at a briefing at the Murtala Muhammed Airport Terminal Two, Ikeja, Lagos after the Federal High Court discharged and struck out the order obtained by AMCON through its counsel, Mr Olisa Agbakoba , to take over the assets of the firm in lieu of the controversial debt.
Addressing reporters head of litigation, Babalakin and Company, Mr Tola Oshobie said the debt owed the company by the Federal Government is predicated on the breach of agreement between the firm and government . He said the loss of revenue to the firm over the refusal of government to hand over the old domestic terminal of the Lagos Airport is responsible for the default in the firm paying the loan it took from a consortium of banks.
He said the position of Bi- Courtney on its face off with AMCON over the controversial debt settlement agreement between the two , has for the umpteenth time been upheld by the judiciary.
Ruling in an oral application by Bi- Courtney to vacate the order, which was allegedly procured by AMCON , Justice M.I Buba , struck out the order on the grounds that it was an abuse of process, and further Declared that the order was a nullity.
Bi- Courtney has described the ruling as a victory for the rule of law , even as it has strengthened confidence in the judicial process.
The company further described the purported take over of the terminal and the old Federal secretariat , both in Lagos by AMCON as a contrived and reckless action as well as a deliberate assault on the integrity of the judicial system by the self styled receiver, Mr Olisa Agbakoba .
The head of litigation also described the management of AMCON and its counsel as a serial users of the law, while noting that the order purportedly obtained by Agbakoba was fraudulently and unlawfully obtained from the Federal High Court by concealing the existence of two court orders since November 4, 2011.
He said the suit numbers : FHC/L/CS/1305/2011 and FHC /L/1306/2011, specifically restrained the Federal Government AMCON from interfering with the operations and finances of Bi-Courtney and Resort International Limited as well as their related or associated companies.
He said :” It is noteworthy that with AMCON being a party in the above matter and Olisa Agbakoba , being its counsel , the purported appointment of dame as receiver was demonstrable evidence of the cavalier, contemptuous and illegal action. The failed attempt by AMCON to disrupt the operations of MMA 2 , is insensitive, with grave implications for the drive to engender a private sector led resuscitation of public infrastructure and the nation’s economy . It is a deliberate attempt to frustrate investments , commercial development and job creation in Nigeria .”