Justice Ambrose Lewis-Allagoa of the Federal High Court in Lagos has scheduled December 8, 2025, to rule on which lawyer is legally recognized to represent General Hydrocarbons Limited (GHL) in its lawsuit against the Asset Management Corporation of Nigeria (AMCON) and others.
The case took a turn during the resumed hearing when two senior lawyers, Dr. Abiodun Layonu, SAN, and Mr. Oluseye Opasanya, SAN, both appeared claiming to represent GHL.
Dr. Layonu stated that he remained the company’s lawyer and had followed the court’s instructions by filing the necessary documents.
He asked the court to confirm him as the company’s legal representative, arguing that AMCON’s appointment of a Receiver/Manager violated existing court orders.
On the other hand, Opasanya told the court that AMCON had appointed a Receiver/Manager over GHL on September 18, 2025, and he presented the appointment document in court.
He argued that after the appointment, the company’s directors no longer had the power to hire a lawyer, meaning any lawyer acting on their instructions lacked authority.
He also referred to Supreme Court rulings to support his claim that the directors’ powers were suspended and requested that the court recognise the Receiver’s choice of counsel.
The disagreement over representation had delayed contempt proceedings GHL filed against AMCON.
The contempt suit is connected to earlier court orders that stopped AMCON from taking steps to recover assets or interfere with the company while the case was ongoing.
The original case concerns Oil Mining Leases 120 and 121. These leases were part of a recovery plan involving First Bank of Nigeria and Atlantic Energy Drilling Concept Limited to address a large non-performing loan.
Under the arrangement, GHL could continue operating the assets, using production income to repay the loan.
AMCON and First Bank later raised concerns over the company’s management, citing revenue diversion, unpaid contractors, and threats to asset operations.
In response, AMCON appointed a Receiver on September 18, 2025, under the AMCON Act, to protect the assets. AMCON argues that the former directors filed the lawsuit without authority in a move to challenge the Receiver.
Since taking control, the Receiver has been working to stabilise operations while claiming the former management attempted to misuse court orders against the receivership.
The court will make a decision on December 8, 2025, to determine which lawyer is officially recognised to represent General Hydrocarbons Limited in the ongoing dispute.
© 2025 Naijaonpoint, a division of NOP Media Inc. Contact us via [email protected]