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Arik Vows To Challenge AMCON’s Takeover


BEVERLY HILLS, February 9, (THEWILL) – The management of Arik Air on Thursday has revealed that it would challenge the taking over of the airline by the Assets Management Company of Nigeria (AMCON) in court.

This was disclosed by Capt. Ado Sanusi, Senior Vice President, Arik Air, at a joint news briefing with the newly appointed receiver Manager, Oluseye Opasanya (SAN) and the airline’s technical consultant, Capt. Roy Ilegbodu.

THEWILL recalls that AMCON had taken over the airline on Thursday following the huge indebtedness of the airline to local and foreign creditors.

However, Sanusi, in a quick response to the takeover said although the Arik Management had been served with a valid court order empowering AMCON to take over the affairs of the airline, it would challenge the court order.

“As responsible citizens, we have obeyed the court order which appointed the Olaniwun Ajayi (SAN) as the receivership manager,” he said.

“We will comply but I want to make it clear that we have a right to challenge the court order.

“In the coming days, we will make our position known. It is a court order and we can challenge it and we will challenge it to the highest court of authority.

“While the legal battle would be on one front, the parties have agreed that Arik Air would continue to run without any disruption.”

Also speaking at the briefing, Opasanya said AMCON was on a rescue mission to reposition the embattled airline promising that the airline would keep flying.

“AMCON has been a creditor to Arik for sometime. It also has security over substantial parts of the assets of Arik,” he said.

“The debt of Arik to AMCON has not been paid and huge sums of money is owed. So AMCON, having consulted widely with government authorities has decided to appoint me to preside over the affairs of Arik.

“So we have come to supervise the operation, sustain the operation, improve services and ensure that we support Arik with people of deep knowledge, experience and commitment in the airline industry.

“We have addressed the workers and the management and we want to assure other stakeholders and members of the public that the desire of AMCON is to keep the airline flying.

“AMCON is willing to support the operation of Arik and together with the government, work to meet the immediate essential needs of the company.”