General Hydrocarbons Limited (GHL), its directors, and shareholders have commenced contempt proceedings against senior officials of Asset Management Corporation of Nigeria (AMCON) for allegedly disobeying a subsisting order of a Federal High Court in Lagos, which restrained them from appointing a Receiver over GHL.

Recall that Justice A. Lewis-Allagoa of the Federal High Court, Lagos, had on September 23 issued an order restraining AMCON from taking any steps in the appointment of a Receiver over GHL and also reinforced the same order on October 22.

However, Justice Akintayo Aluko of the same Federal High Court, Lagos, two days later, on October 24, ruling in an ex parte application brought by AMCON, made an order for the appointment of a Receiver over GHL, necessitating the contempt proceedings against AMCON, its officials, as well as legal representatives, who were aware of the subsisting order of Justice Lewis-Allagoa.

GHL, in the court documents, specifically accused AMCON of misleading the Federal High Court, Lagos, and Justice Akintayo Aluko into granting an order for the appointment of a Receiver over GHL, in the sense that they refused to disclose the existence of a substantive injunction issued by Justice A. Lewis-Allagoa of the same Federal High Court, Lagos days earlier, which restrained them from taking any steps whatsoever towards ?APPOINTING OR CONTINUING WITH? any appointment of a Receiver over GHL.

GHL submitted, ?In a gross abuse of court process, AMCON and its lawyers failed to disclose to Justice Aluko that Justice Lewis Allagoa had in fact restrained AMCON from appointing or continuing any receivership when they obtained the Order Ex Parte.

?Furthermore, they misrepresented the facts that there was an Eligible Bank Asset (EBA) issued by AMCON to GHL, this is not true.

?Indeed, AMCON made a part-payment and deposit towards a First Bank of Nigeria (FBN) EBA and made Tranche 1 payment to First Bank of Nigeria Limited (FBN), and did not make the 2nd and final payment to FBN to complete the consideration towards an EBA.?

The applicants further disclosed that FBN had since offered to return the EBA deposit in letters to AMCON and processes filed in court, adding that AMCON, instead of pursuing FBN, for some curious and inexplicable reasons, are seeking to go after GHL, despite all their correspondence to the contrary blaming FBN, which are all before the courts.

Consequent upon the above, the Form 48 ? Notice of consequence of disobedience of court orders ? has been issued against the following: Dr Bala Bello (Chairman of AMCON); Mr Gbenga Alade (MD of AMCON); Mr Adeshola Lamidi (ED of AMCON); Mr Lucky Adaghe (ED of AMCON); and Dr Aminu Mukhtar Dan?amu (ED of AMCON).

Others include Mr Oluseyi Akinwunmi (purported Receiver appointed by AMCON); Mr Bidemi Ademola-Bello SAN (Counsel to AMCON and the MD of AMCON, who was in court when Honourable Justice A. Lewis-Allagoa made the order and undertook in open court to abide by the orders of the court); and Mr Ade Adedeji SAN (Counsel to AMCON and the MD of AMCON, whose firm is representing AMCON and the MD of AMCON).

Meanwhile, Justice A. Lewis-Allagoa had now ordered substituted service of the contempt processes to all of the above-named persons through their official email addresses and WhatsApp phone numbers, and/or by delivering same to them at their official addresses and/or by publishing same in at least two newspapers with nationwide circulation in Nigeria, and other news media with nationwide presence in Nigeria. (THISDAY, but headline rejigged)

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