Court rules on Arik Air takeover by AMCON May 15

Justice Mohammed Idris of a Federal High Court in Lagos will on May 15 rule on the propriety or otherwise of the takeover of Arik Air by the Assets Management Corporation of Nigeria (AMCON).

The judge will on the date rule on the objections raised by four aggrieved persons; Mr. Joseph Arumemi- Ikhide, Chris Ndule, Dr. Michael Arumemi-Ikhide and Mr. Sangowawa Olabisi, to the takeover.

It would be recalled that upon the takeover of Arik Air by AMCON on February 8, 2017, a legal practitioner, Mr. Oluseye Opasanya (SAN), of the law firm of Olaniwun Ajayi LP, was appointed as the receiver manager of the airline.

However, the four aggrieved persons in their preliminary objections filed through their lawyer, Mr. Babajide Koku (SAN) accused the lawyer representing AMCON and Opasanya, Prof. Kayinsola Ajayi (SAN), of engaging in professional misconduct.

Arguing the objections, Koku urged the court to void all the processes so far filed in the matter noting that Ajayi and Opasanya are both lawyers practising in the law firm of Olaniwun Ajayi LP.

He further argued that by virtue of Rule 17 of Professional Conduct of Legal Practitioners 2007, neither Ajayi nor any other lawyer from the law firm of Olaniwun Ajayi (LP) could appear in a case where Opasanya is a plaintiff.

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