The Federal High Court sitting in Lagos has declared AMNI International Petroleum Development Company Limited unable to pay a debt of $2,625,429.21 owed to CCM Vessel Management Company Limited and appointed a legal practitioner, Mr. Sam Aiboni, as Administrator over the oil firm’s assets and affairs.
Justice Chukwujekwu Aneke made the orders in Suit No. FHC/L/CS/1463/2025, following an administration application brought under Section 450 of the Companies and Allied Matters Act (CAMA), 2020.
In his ruling, the court held that AMNI had become unable to pay its debts, having regard to its financial position and obligations, particularly its failure to settle the outstanding sum owed to CCM Vessel Management under Contract No. 03-AMN-CCM-LG-CNT-00001 dated April 1, 2019.
