Court To Rule December 8 On Proper Legal Representative Of General Hydrocarbons In AMCON Dispute

Justice Ambrose Lewis-Allagoa of the Federal High Court, Lagos, has fixed December 8, 2025, to determine who is legally authorised to represent General Hydrocarbons Limited (GHL) in its suit against the Asset Management Corporation of Nigeria (AMCON) and others.

The proceedings on Wednesday were stalled after two senior lawyers—Dr. Abiodun Layonu, SAN, and Mr. Oluseye Opasanya, SAN—announced separate appearances for the plaintiff.

Dr. Layonu maintained that he remained counsel on record for GHL, noting that he had complied with the court’s earlier directive by filing an application and a further affidavit dated December 3, 2025. He urged the court to affirm him as the company’s legitimate legal representative, arguing that AMCON’s appointment of a Receiver/Manager was carried out in violation of subsisting court orders.

But Opasanya, SAN, countered that AMCON had validly appointed a Receiver/Manager over the company on September 18, 2025, and referenced the instrument of appointment exhibited in an affidavit dated December 2, 2025. He argued that once a receiver is appointed, the powers of the company’s directors—including the authority to retain lawyers—are extinguished. Citing Supreme Court authority, he said the directors’ powers had been “frozen and paralysed,” and urged the court to recognise the Receiver’s choice of counsel.

The dispute over representation has delayed the hearing of contempt proceedings filed by GHL against AMCON. The contempt application stems from interim orders restraining AMCON from taking recovery steps or interfering with the company’s assets pending the determination of motions aimed at preventing the appointment of a receiver/manager.

The underlying suit concerns Oil Mining Leases (OMLs) 120 and 121, which were part of a structured recovery arrangement involving First Bank of Nigeria, AMCON, and Atlantic Energy Drilling Concept Limited over a substantial non-performing loan. Under a Tripartite Agreement, GHL was allowed to operate the assets and channel production revenues toward loan repayment.

However, AMCON and First Bank later accused GHL’s former management of revenue diversion, failure to pay contractors, and exposing the assets to operational risks. Citing the need to protect the OMLs, AMCON appointed a Receiver under Sections 34 and 48 of the AMCON Act.

AMCON maintains that despite being legally stripped of their powers, the former directors initiated the suit in an attempt to obstruct the receiver’s work. Since the takeover, the Receiver has reportedly stabilised operations and accused the former management of seeking to misuse court orders to undermine the receivership.

Justice Lewis-Allagoa adjourned the matter to December 8, 2025, for ruling on who is properly authorised to represent General Hydrocarbons Limited.