APPOINT SAM AIBONI AS ADMINISTRATOR
BY: AYO AGBEOLUWAYE
A Federal High Court sitting in Lagos has 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.
In a ruling delivered by Justice Chukwujekwu Anele of the federal high court sitting in lagos in Suit No: FHC|L|CS|1463|25 follows a similar administration order made on Friday, 13 February 2026, in a separate creditor action brought by Cenroc FPSO Solutions Nigerian Limited against AMNI.
The consecutive rulings arise from separate creditor applications presented before the Court within the same period.
In a 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.
The Court consequently appointed Mr. Sam Aiboni, Esq. as Administrator/Receiver-Manager of AMNI International Petroleum Development Company Limited.
Reliefs Granted to CCM Vessel Management 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.
The reliefs further authorizes 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.
Consecutive Creditor Actions Before the Court
Legal analysts note 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.
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.
Debt Profile and Contractual Context
The court 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 cognizance of the materials placed before it in determining the application for administration.
Why Court-Supervised Administration Exists
Court-supervised administration is a statutory corporate rescue and creditor-protection mechanism which is designed amongst things 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 by the court reflects Court’s exercise of its statutory powers to place the company under independent professional management in line with the objectives of court-supervised administration.
