The Asset Management Corporation of Nigeria (AMCON), has taken possession of all assets belonging to Aeroland Travels and its directors over a N1.8 billion debt.
In a statement in which this disclosure was made, AMCON spokesperson Jude Nwauzor said this development was a follow-up to the order of Honourable Justice D.E. Osiagor of the Federal High Court, Lagos Division.
“It would be recalled that Justice Osiagor gave the ruling on February 7, 2022, and in compliance to the enforcement order of the court, AMCON put logistics together, and on Friday, May 6, 2022, took effective possession of the nine properties as listed by the court through its debt recovery agent – Robert Ohuoba & Co.
“The properties include those situated at Plot 4 & 4B Block 66 Magodo Scheme, Lagos State; Plot 9, Block 44c, Adetoro Adelaja Street, Magodo Lagos; No. 4C Maye Ogundana Street, Magodo Lagos; No. 10 Oluyomi Oshinkoya Street, Magodo Residential Scheme, Lagos; Plot 8, Block 66, Residential Scheme, Sangisha, Lagos; No. 2A John Olugbo Street, Ikeja, Lagos; No. 2 Fadeyi Street, off Awolowo way, Ikeja, Lagos; No. 8 Surulere Alelor Street, Millenium, Gbagada; and No. 14 Jerry Iriabe Street, off Bashorun Okunsanya, off Admiralty Road, Lekki Penisula,” the statement quoted him as saying.
According to Nwauzor, the court also ordered the freezing of the bank accounts and shares of the company’s directors, including Segun Adewale and Victoria Adewale.
It added that the court additionally granted AMCON rights to seize any other landed property in any other place that might be found within the jurisdiction of the Federal High Court belonging to Aeroland Travels Limited or either of its directors.
Nwauzor said all the property as listed in the court order had been taken over by AMCON with the assistance of court bailiffs and other officials of the law.
How Aeroland Travels started owing AMCON
- AMCON had purchased the non-performing loan of Aeroland Travels Limited from Polaris Bank (formerly Skye Bank) in 2018.
- However, until the coming of the order of the court, all previous efforts by AMCON and its representatives to resolve the debt amicably with the obligor had proved abortive, which was why the corporation resorted to the court for justice.