Zhongshang Fucheng Industrial Investment Ltd, a Chinese firm on a seizure spree of Nigerian assets, has taken over another luxury jet in Canada, owned by most populous black nation.
The Chinese firm had recently received a change of custodian paperwork for the Bombardier 6000 type BD-700-1A10 aircraft from Canadian authorities in Montreal months after a Quebec court issued a judgement that empowered Zhongshang to seize the jet from Nigeria.
In its pursuit of enforcement of its arbitration awards of over $70 million against Nigeria, Zhongshang has confiscated several Nigerian assets overseas, including two properties in Liverpool, a Dassault Falcon 7X in Paris, a Boeing 737, an Airbus A330 valued at over $100 million with the Bombardier 6000 in Canada being the latest.
On March 21, 2024, Judge David Collier of the Superior Court of Quebec dismissed Nigeria’s attempt to retain ownership of a Bombardier 6000 jet, which records show was acquired for $57 million by Dan Etete, a fugitive, as part of a massive spending spree following his receipt of over $350 million from the corrupt sale of the OPL 245 oil field in 2010.
The jet, identified by its tail number M-MYNA and serial number 9471, was initially seized from Etete by Nigerian authorities in 2016 and held in Dubai.
In a surprising move, the jet was flown to Canada on May 29, 2020, where Nigeria quickly secured a court order to seize it and keep it at Montreal’s main airport.
Although a Canadian company, Tibit, claimed ownership, the Canadian courts ruled in favour of Nigeria, allowing it to retain possession.
However, in 2023, Zhongshang Fucheng, a Chinese firm, moved to seize the aircraft as part of its efforts to enforce arbitration awards against Africa’s largest oil producer.
Judge Collier ruled against Nigeria, rejecting its arguments, including the claim that it could not respond to the lawsuit due to the February-March 2023 general elections, deeming this excuse “frivolous and unacceptable.”
The judge also dismissed Nigeria’s assertion of sovereign immunity, aligning with earlier rulings by an arbitration panel and courts in the United Kingdom and the United States.
“The court authorises Plaintiff to seize before judgment the property described below, currently in the hands or under the control of the Mise-en-cause (Tibit Limited) and/or the Custodians (Aviation Etcetera S.E.C. and/or Starlink Aviation Inc.) or any of their parent, subsidiary or affiliated entities:
“A Bombardier 6000 Jet (type BD-700-1A10) with Tail number M-MYNA and serial number 9471, registered with the Isle of Man Aircraft Registry (the “Aircraft”) and all rights of the Federal Republic of Nigeria in, to or against (i) the Aircraft; and (ii) any proceeds from the sale or transfer of the Aircraft that is payable or belonging to Nigeria,” the court document sighted by BusinessDay reads in part.
With this development, using asset tracing tools, Zhongshang successfully gained control of the luxury jet with further seizures anticipated in Belgium, the British Virgin Islands and the U.S. despite Nigeria’s continued denial of wrongdoing in a legal battle which stemmed from a botched deal between the Chinese investor and Ogun State government over the management of a free trade zone.
