Federal High Court clarifies AMNI not in receivership, adjourns for ruling on stay of application

The Federal High Court sitting in Ikoyi, Lagos, on Tuesday clarified that AMNI International Petroleum Development Company Limited is not in receivership, as it adjourned proceedings in its dispute with Cenroc FPSO Solutions Nigeria Ltd. to rule on an application for stay of execution.

The clarification was made in Suit No. FHC/L/CS/1454/25 during proceedings before Justice Aneke, after counsel appearing in respect of the court-appointed Administrator initially announced representation as counsel to a receiver or receiver-manager. The court immediately corrected the record, stating that no receiver or receiver-manager had been appointed and emphasised that the appointment was strictly limited to an Administrator.

The matter came up for hearing of AMNI’s motion seeking a stay of execution following an earlier ruling that appointed an Administrator in relation to claims arising from commercial contracts between both parties.

Counsel to AMNI informed the court that the company had filed a Notice of Appeal against the ruling, maintaining that the underlying claims remain contested and stem from routine commercial transactions rather than insolvency.

AMNI further told the court that despite being served with the Notice of Appeal and stay application, the Administrator had allegedly taken steps to enforce the ruling, including engaging law enforcement authorities and communicating with third parties, without recourse to the court’s bailiffs.

In response, the court admonished the Administrator and his counsel, directing them to refrain from any enforcement or extra-judicial actions and to act strictly in accordance with the rules of court pending determination of the stay application.

After hearing submissions from both parties, the court adjourned the matter to February 26, 2026, for ruling on AMNI’s motion for stay of execution.

In a related development, AMNI has commenced contempt proceedings against the Administrator, alleging actions taken in defiance of the court’s warnings and despite the pending appeal and stay application. The company maintained that no receivership exists, no receiver has been appointed, and that it continues to operate in the ordinary course of business.

When contacted, AMNI’s lawyers declined comment, stating that the matter was now sub judice.