Falana’s warning sparks legal showdown over Arik Air assets in defiance of court orders

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Falana's warning sparks legal showdown over Arik Air assets
Arik Air Boeing 737-76N(WL) sourced from Planespotters.net

Femi Falana has threatened contempt proceedings against Nigeria Civil Aviation Authority for potential disobedience of a federal high court judgment.

Falana, Arik Air Shareholders Counsel, petitioned the NCAA to restore deregistered aircraft assets of the airline illegally set for transfer.

This follows a March 31, 2023 judgment of Suit No FHC/L/CS/1175/2021, setting aside the transfer of Arik Air Limited’s assets.

Receiver Manager Kamilu Alaba Omokide, AMCON, originally intended to transfer the assets to NG Eagle and Super Bravo Nigeria Limited.

However, the Court  had deemed the process illegal and a fiduciary breach to Arik Air. Furthermore, the court  listed assets including three (3) 737NG aircraft not to be tampereds with. 

According to reports, he noted, “Manufacturer Serial Number 34761, originally registered as 5N-MJE, is now registered as 5N-BXX with NG Eagle. In addition aircraft Serial Number 33944, originally registered as 5N-MJG, is now reportedly 5N-BXW with NG Eagle livery. Finally, manufacturer Serial Number 35638, originally 5N-MJN, is reportedly currently registered as 5N-BXV with NG Eagle livery.

He warns against any attempt to keep these assets under NG Eagle in the NCAA registry. Falana said, “Such actions would disobey the Federal High Court’s order, inviting contempt proceedings.”

Ultimately Falana said, “Failure to comply may lead to legal consequences for those involved in contempt of court.” The legal battle escalates over the control and registration of Arik Air’s valuable assets.

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