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Lukman Olabiyi
The Asset Management Corporation of Nigeria (AMCON) yesterday took over several multi-billion naira properties in Victory Park Estate, Lekki, Lagos, following a N12,966,510,191 judgment debt it won at the Court of Appeal in the state.
The properties included assets of Knight Rook Ltd., situated within Victory Park Estate, among other assets.
AMCON’s move followed dismissal of an appeal filed by Rev. Olajide Awosedo against an October 3, 2017 judgment of the Federal High Court in a suit marked FHC/L/CS/744/17 – Asset Management Corporation of Nigeria vs Knight Rook Limited & Ors.
The appellate court also awarded a cumulative sum of N12,966,510,191, in favour of AMCON, against Knight Rook Ltd., Grant Properties Ltd, Rev Olajide Awosedo, Olawunmi Olajide-Awosedo, Abimbola Olajide-Awosedo and Fibigboye Estates Ltd.
AMCON officials and Sheriffs of the Federal High Court, Lagos, were protected by a detachment of police officers as they enforced the June 3, 2019 judgment.
The sheriffs told residents of the estate that they were on lawful duty to execute the Federal High Court judgment against the assets of certain entities, who were allegedly indebted to a consortium of banks, but which debt was taken over by AMCON.
Some residents, who declined to be named, confirmed the development to Daily Sun, yesterday.
The residents said they were aware of a series of court actions regarding the alleged debt and the collateral land, as well as the judgment, and that many of them, who had earlier acquired titles from the alleged debtors, were also affected by the judgment.
Others said they were in receipt of an official statement by AMCON to residents, notifying them of the appellate court judgments, upholding the lower court judgment.
It was also gathered that some of the affected residents have since resolved with AMCON, by ratification, while others are about taking steps to do same.
In furtherance of that, last week, they engaged the services of a Senior Advocate of Nigeria and gave him their mandate to approach AMCON for negotiation; in a bid to secure their interests and arrive at an amicable solution.
