AfriPulse
AMNI International Petroleum Development Company Limited has clarified reports that a Receiver/Manager has been appointed over the company.
In a statement on February 13 stated that the report is inaccurate and materially misleading.
According to the company, the order made by the Federal High Court does not appoint a Receiver/Manager over the company.
“Rather, the order, as drawn, relates to a limited appointment as Administrator for defined purposes connected to an alleged indebtedness.
“Any representation that a receivership has been established or that full managerial control of AMNI has passed is incorrect”, read part of the statement.
Accordingly, the company said the scope, validity, and effect of the said appointment are currently the subject of appellate proceedings.
“AMNI has exercised its constitutional right of appeal and has filed applications for stay of execution and injunctive relief before the Court of Appeal. These applications remain pending and undetermined.
“It is therefore concerning that public declarations implying finality or control have been circulated while judicial proceedings seeking to preserve the status quo are awaiting determination. Such representations risk creating a misleading impression that does not reflect the true legal position”, the company stated.
We gathered that the underlying dispute arises from commercial transactions that AMNI is seriously contesting, including issues concerning corporate authority and prior approvals. These matters form part of the substantive questions now before the appellate court.
The statement added that AMNI continues to operate in the ordinary course of business and remains fully committed to its regulatory, contractual, and operational obligations.
Meanwhile, stakeholders are advised that the matter is sub judice and subject to final judicial determination.
“The Company will take all lawful steps necessary to protect its rights and assets pending resolution of the appellate proceedings.
You Might Be Interested In
Ikechi Nzeako
Ikechi Nzeako is a journalist with Independent Newspapers Limited. He is a graduate of the University of Ibadan and he is interested in politics, history, economy and sports. He writes on small business, entrepreneurship, training, employment, start-ups, and general business.
Source: Independent.ng | Read the Full Story…
