AMNI International Petroleum Development Company Limited (referred to as AMNI or 'the Company') has acknowledged recent media reports implying that a Receiver-Manager has been assigned to the company.
The company aims to clarify that such interpretations are incorrect and fundamentally misleading. According to AMNI, the ruling from the Federal High Court does not involve the appointment of a Receiver-Manager. Instead, the order specifies a restricted appointment as an Administrator for certain purposes related to an alleged debt.
The claims suggesting that a receivership has been initiated or that complete managerial authority has shifted from AMNI are erroneous.
Currently, the parameters, legitimacy, and implications of this appointment are under review in appellate court proceedings. AMNI has invoked its constitutional right to appeal and has submitted requests for a stay of execution along with injunctive relief to the Court of Appeal. These petitions are still pending.
It is disconcerting to note that public statements implying a definitive outcome or control circulating while legal processes designed to maintain the status quo are ongoing could mislead the public regarding the real legal circumstances.
The ongoing dispute stems from commercial dealings that AMNI is actively challenging, including matters about corporate governance and necessary prior consents. These issues are currently part of the substantial queries before the appellate court.
For further clarification:
• An appeal has been formally filed.
• Applications for stay of execution and requests for injunctive relief remain outstanding.
• The legal validity, extent, and consequences of the alleged appointment are actively contested.
• The primary claims concerning unauthorized consent and corporate governance are strongly disputed.
AMNI is committed to continuing its business operations as usual while fulfilling its regulatory, contractual, and operational responsibilities.
Stakeholders are reminded that this matter is still sub judice and will undergo ultimate judicial resolution. The Company intends to take all necessary legal steps to safeguard its rights and assets while awaiting the outcome of the appellate process.
About AMNI International Petroleum Development Company Limited: AMNI is an indigenous independent exploration and production company focusing on upstream oil and gas activities in Nigeria.
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