Again, Court Orders Supervised Administration Of AMNI In Second Creditor Action

The Federal High Court sitting in Lagos, on Monday, again ordered court-supervised administration in respect of AMNI International Petroleum Development Company Limited, pursuant to the provisions of the Companies and Allied Matters Act (CAMA), 2020.

The ruling, delivered in Suit No: FHC/L/CS/[Insert Suit Number], by Honourable Justice Aneke, followed a similar administration order made on Friday, February 13, 2026, in a separate creditor action brought by Cenroc FPSO Solutions Nigerian Limited against AMNI with the consecutive rulings arising from separate creditor applications presented before the Court within the same period.

In the present matter, brought by CCM Vessel Management Company Limited, the Court granted the application for administration on the basis of the materials and statutory thresholds placed before it, and ordered court intervention in accordance with the insolvency provisions of CAMA, 2020 and the Court again appointed Mr. Sam Aiboni, Esq. as Administrator/Receiver-Manager of AMNI International Petroleum Development Company Limited.

In granting the application, the Court ordered the appointment of an Administrator to take possession of, manage, and exercise control over the business and affairs of AMNI in accordance with the powers conferred under CAMA, 2020, while the reliefs further authorised the Administrator to take custody and control of AMNI’s assets, including its office premises in Lagos and operational assets connected to its upstream petroleum activities, including FPSO Princess Aweni (formerly Armada Perkasa), subject to regulatory and judicial oversight, for the purposes contemplated under the administration framework.

In his reaction on the latest development, Mr. Aiboni noted that insolvency proceedings are creditor-specific, and that the administration orders granted in separate matters reflect judicial determinations made on the applications placed before the Court by different creditors within the same period.

He further explained that in granting the reliefs sought, the Court relied on statutory provisions that empower judicial intervention where a company is found, for the purposes of an administration application, to have met the statutory conditions prescribed under CAMA, 2020.

“The present application arose from a claim by CCM Vessel Management Company Limited in respect of outstanding sums amounting to $2,625,429.21 under a contractual arrangement relating to operations and maintenance services for FPSO Princess Aweni (formerly Armada Perkasa) at the Okoro Field in Rivers State. The Court took cognisance of the materials placed before it in determining the application for administration,” said Aiboni

On the reason for Court-Supervised Administration, he stressed that Court-supervised administration is a statutory corporate rescue and creditor-protection mechanism designed to: provide independent oversight of a company’s affairs, preserve the value of corporate assets, facilitate restructuring or orderly management of distressed businesses and ensure creditor interests are protected within a regulated legal framework

” The appointment of an Administrator reflects the Court’s exercise of its statutory powers to place the company under independent professional management in line with the objectives of court-supervised administration and the rulings illustrate the practical activation of Nigeria’s insolvency framework under CAMA, 2020 and demonstrate the availability of court-supervised administration as a creditor-protection and corporate management mechanism in commercial disputes,” concluded Aiboni