Arik Shareholders Files N20bn Suit against FG, Ethiopian Airlines

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Shareholders of Arik Air Limited has filed a N20 billion suit against the federal government and Ethiopian Airlines over recent claims in the media that they were negotiating the takeover of Arik.

The suit was instituted at the Federal High Court, Lagos against Ethiopian Airlines, the Federal Ministry of Transportation and the Attorney General of the Federation (AGF), Mr Abubakar Malami.

A copy of the suit, which was filed on September 6, 2017 by Arik Air’s counsel, Mr Babajide Koku (SAN), Mr Chukwuemeka Nwigwe and Mrs Ezinne Emedom, was obtained by THISDAY on Sunday in Lagos.

In its statement of claim supported by a 20-paragraph affidavit deposed to by Mr Chris Ndulue, a Director with Arik Air, the plaintiff asked the court to restrain the first and second defendants from further negotiations on its takeover.

The plaintiff noted that the Asset Management Company of Nigeria (AMCON) had taken over the airline on February 8, 2017 which was challenged by its management via two suits already pending before the Federal High Court, Lagos.

Details later…