Home Business Arik shareholders sue FG, Ethiopian Airlines for N20bn | | MMS PLUS...

Arik shareholders sue FG, Ethiopian Airlines for N20bn | | MMS PLUS WEEKLY NG

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Arik shareholders sue FG, Ethiopian Airlines for N20bnShareholders of Arik Air Limited have filed a N20bn suit against the Federal Government and Ethiopian Airlines over recent claims of negotiations between them for the takeover of the airline.

Our correspondent gathered that the suit instituted on September 6, 2017 at the Federal High Court, Lagos by Arik’s counsel, Mr. Babajide Koku, Mr. Chukwuemeka Nwigwe and Mrs. Ezinne Emedom, named Ethiopian Airlines, the Federal Ministry of Transportation and the Attorney General of the Federation and Minister of Justice, Mr.  Abubakar Malami, as defendants.

In a statement of claim supported by a 20-paragraph affidavit deposed to by a director of Arik Air, Mr. Chris Ndulue, the airline asked the court to stop the first and second defendants from further negotiations for the takeover of the carrier.

Ndulue stated that the Asset Management Corporation of Nigeria had taken over the airline on February 8, 2017 and was challenged by the ersthwile Arik management through two suits…



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