Takeover negotiations : Arik Air files N20bn suit against FG, Ethiopian Airlines - News Summed Up

Takeover negotiations : Arik Air files N20bn suit against FG, Ethiopian Airlines


The suit was instituted by the airline at the Federal High Court, Lagos against Ethiopian Airlines, the Federal Ministry of Transportation and the Attorney General of the Federation. In its statement of claim supported by a 20 paragraph affidavit deposed to by Mr Chris Ndulue, a Director with Arik Air, the plaintiff asked the court to restrain the first and second defendants from further negotiations on its takeover. According to the plaintiff, the suits numbers are FHC/L/CS/827/17 and FHC/L/CS/826/17, adding that the negotiations by the defendants will render the outcome of the suits nurgatory. The plaintiff also averred that the negotiations had caused undue hardship and irreparable damage to the Arik Air brand and ongoing investment discussions as well as unbearable distress to the airline’s shareholders and directors. The plaintiff also asked the court for an order compelling the Inspector General of Police to investigate the actions of the second defendant.


Source: Ethiopian News September 10, 2017 11:37 UTC



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