AMCON, FG owe us N132 billion, Bi-Courtney insists

The disagreement on the actual existing debts profile between operators of the Murtala Muhammed Terminal Two (MMA2) in Lagos, Bi- Courtney Aviation Services Limited (BASL) and the Asset Management Company of Nigeria (AMCON) appears to have taken another twist as the company insist yesterday that AMCON and the Federal Government owes it over N132billion by virtue of a subsisting 2011 ruling of the Federal High Court.

It said yesterday that the country’s asset management agency erred in its claims that the reverse is the case.

A Federal High Court had on Friday discharged and struck out the order obtained by AMCON through its council Mr Okisa Agbakoba, to take over the assets of the firm in lieu of the controversial debt it said BASL owed the federal authority.

Head of litigation, Babalakin and Company, Mr. Tola Oshobie while briefing journalists in Lagos yesterday said the debt owned the company by the Federal Government is predicated on the breach of agreement between the BASL and government.

Oshobie claimed that the loss of revenue to the firm over the refusal of government to hand over the old domestic terminal of the Lagos Airport as part of the agreement it entered when it took over the management of the old terminal is responsible for the default in paying the loan it took from a consortium of banks.

He said the judiciary has at several instances held that its judgment.

The company claimed that a ruling in an oral application by Bi- Courtney to vacate the order allegedly procured by AMCON was however struck out by Justice M.I Buba “on the grounds that it was an abuse of process, and further   Declared that the order was a nullity.”

While describing the recent ruling by the court as a victory for the rule of law, the firm affirmed that the purported takeover of the terminal and the old Federal secretariat 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”.

According to him, 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.

“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 MMA2 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”, BASL said in a statement.