Insolvency: Court Appoints Administrator Over AMNI In Second Creditor Lawsuit

The Federal High Court in Lagos has placed AMNI International Petroleum Development Company Limited under court-supervised administration following a suit filed by CCM Vessel Management Company Limited. Justice Chukwujekwu Aneke appointed Mr. Sam Aiboni as Administrator/Receiver-Manager, granting him control over the company’s assets and business operations, as authorized by the Companies and Allied Matters Act (CAMA), 2020. This is the second such order for AMNI in under two weeks, following a similar ruling on February 13, 2026, in a case brought by CENROC FPSO Solutions Nigerian Limited.

The current order stems from an alleged $2.63 million debt related to operations and maintenance services at the Okoro Field in Rivers State. The court determined that the requirements for administration under CAMA, 2020, had been satisfied. The administrator’s powers extend to AMNI’s Lagos office and operational assets, including the FPSO Princess Aweni.

Legal experts emphasize that insolvency proceedings are specific to each creditor, allowing for multiple administration orders if separate claims meet the legal criteria. Court-supervised administration aims to protect creditors, preserve asset value, and enable restructuring or orderly management of the company.

(Source：Independentng)