AMNI International Petroleum Development Company Under Receivership Over Bankruptcy

AMNI International Petroleum Development Company Under Receivership Over Bankruptcy

 

OpenLife Nigeria reports that Justice Chukwujekwu Aneke of a Federal High Court, Lagos, has ordered court-supervised administration over AMNI International Petroleum Development Company Limited.

Justice Aneke made the above order on Monday, delivering judgment in a suit marked FHC/L/CS/1463/25, in an application filed by CCM Vessel Management Company Limited against AMNI International Petroleum Development Company Limited.

The order is the second time in two weeks, reinforcing judicial oversight of the company’s affairs under Nigeria’s insolvency laws.

The court had on February 13, 2026, granted a similar order, in a separate creditor action filed by CENROC FPSO Solutions Nigerian Limited. Both applications were brought within the same period but arose from distinct creditor claims.

In the new order made on Monday, the Court appointed Mr. Sam Aiboni, Esq. as Administrator/Receiver-Manager of AMNI, granting him authority under the Companies and Allied Matters Act (CAMA), 2020 to take possession of, manage, and control the company’s business and assets.

The appointment empowers the Administrator to oversee AMNI’s Lagos office and operational assets tied to its upstream petroleum activities, including the FPSO Princess Aweni, formerly known as Armada Perkasa.

The CCM application stemmed from an alleged debt of $2.63 million relating to operations and maintenance services performed at the Okoro Field in Rivers State. The Court held that the statutory thresholds for administration under CAMA, 2020 had been met based on the materials presented.

Legal analysts note that insolvency proceedings are creditor-specific, meaning multiple administration orders may arise where separate claims satisfy statutory requirements.

Court-supervised administration serves as a corporate rescue and creditor-protection mechanism, designed to preserve asset value, ensure independent oversight, and facilitate restructuring or orderly management.