AMCON, yesterday, appealed against an order of the Federal High Court, Lagos, revoking an earlier order which granted it power to take over the assets of Bi-Courtney Group.
Justice Ibrahim Buba, had on Sept. 29, upturned an order by Justice Okon Abang allowing AMCON to take over assets of Wale Babalakin (SAN), Chairman of Bi-Courtney Group.
Abang, had on Sept. 22, granted Dr Olisa Agbakoba (SAN), a former president of the Nigerian Bar Association receivership of the assets of Babalakin.
The assets included the Terminal 2 of Murtala Muhammed International Airport, Bi-Courtney Group, Chartered Investment Ltd, Resort International Ltd and Roygate Properties Ltd.
The News Agency of Nigeria (NAN) reports that the order was based on a N50 billion debt allegedly owed AMCON by Babalakin. Buba had upturned Abang’s ruling and held that the order amounted to an abuse of court process since it was made in the face of previous orders and suits in respect of the same subject matter.
Dissatisfied with the order, AMCON, through its lawyer, Agbakoba, has filed a notice of appeal and formulated four grounds before the appellate court.
