The Federal High Court’s Friday ruling in Lagos has sparked a dispute between Asset Management Company of Nigeria (AMCON) management and the former management of Arik Air.
A response from AMCON on Sunday refuted claims made in previous news reports on Saturday that the Federal High Court had overturned AMCON’s acquisition of the airline. Nevertheless, according to a statement released by AMCON on Sunday, the information was false.
AMCON argued that the ruling validated its acquisition of the airline. Moreover, it insisted that AMCON’s appointment was appropriate and that Arik’s ability to carry on with business as usual was unaffected.
AMCON claimed that the verdict had no bearing on Arik’s activities or the Receiver/authority Manager’s to manage the business of the airline.