Justice Ambrose Lewis-Allagoa of a Federal High Court, Lagos, yesterday, adjourned till December 8, 2025, for ruling on the dispute over who is legally authorised to represent General Hydrocarbons Limited in a suit by the company against the Asset Management Corporation of Nigeria, AMCON, and others.
At the resumed hearing, two lawyers, Dr Abiodun Layonu, SAN, and Mr Oluseye Opasanya, SAN, each announced appearance for the plaintiff.
Dr Layonu insisted he remained the counsel on record for General Hydrocarbons Limited, and that he had complied with the court’s directive by filing an application and further affidavit dated December 3, 2025.
He urged the court to affirm him as the proper legal representative of the company and argued that AMCON’s appointment of a Receiver/Manager was made in violation of existing court orders.
However, Opasanya informed the court that AMCON had appointed a Receiver/Manager over the company since September 18, 2025, and he had exhibited the instrument of appointment in an affidavit dated December 2, 2025.
He submitted that upon the appointment of a Receiver, the authority of the company’s directors, including the power to appoint a lawyer, became impossible and any lawyer acting on their instruction lost authority.
Relying on Supreme Court authority, he argued that the directors’ powers had been “frozen and paralysed,” and urged the court to approve the change of counsel in favour of the Receiver.
The dispute had stalled the contempt proceedings filed by General Hydrocarbons Limited against AMCON.
The contempt application is tied to earlier interim orders restraining AMCON from taking recovery steps against the company or interfering with its assets pending the determination of a motion, including but not limited to restraining AMCON from appointing a receiver/manager.
The underlying suit relates to Oil Mining Leases (OMLs) 120 and 121, which were part of a structured recovery arrangement involving First Bank of Nigeria and Atlantic Energy Drilling Concept Limited over a substantial non-performing loan.
Justice Lewis-Allagoa adjourned the matter to December 8 to rule on which counsel is properly authorised to represent the plaintiff.
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