Alleged N924m Debt: Court Fixes Nov. 16, For Trial Of AMCON Suit Against Kanu’s Hotel

Alleged N924m Debt: Court Fixes Nov. 16, For Trial Of AMCON Suit Against Kanu’s Hotel 

A Lagos Federal High Court, today adjourned till November 11, for trial a debt recovery suit filed against a former football star, Kanu Nwakwo’s hotel, Hardly Apartment, by the Assets Management Corporation of Nigeria (AMCON).

AMCON is seeking to recover an alleged debt of N924, 788, 754, 56 million, owed by the hotel.

Joined as the second respondent in the suit marked FHC/L/CS/1635/2015, is Ayoola Gam-Ikon.

At the resumed hearing of the matter today, AMCON’s counsel, Jayes Ujah, told  Justice Chukwujekwu Aneke, that the matter was slated for trial, but expressed dismay over the absence of the counsel to defendants.

However, Justice Aneke informed him of the letter by the counsel to the second defendant, Mr. Clement U, which was given to him for perusal.

Upon reading through the letter, AMCON’s counsel conceded to the adjoumment sought for by the defendants’ counsel.

Consequently, Justice Aneke adjourned the trial of the suit till November 11.

AMCON had dragged Kanu’s hotel, Hardly Apartment alongside it’s Director, Ayoola Gam-Ikon before the court in 2015, in its bit to recover alleged debt of N924 million. 

In an affidavit by a Credit Officer, Mr. Victor Igabor, AMCON said between May 2008 and January, 2011, Skye Bank offered Hardley Apartments a loan of N520,457,000.

It alleged that the hospitality firm based in Victoria Island, Lagos and Gam-Ikon, could not repay the loan.The defendants’ indebtedness as at October 15 was said to be N924,788,754.56, representing principal and interest.

AMCON, which bought over the loan, told the court that if the restraining order was not granted, Kanu’s and the company’s assets could be dissipated.

In December 2015, following AMCON’s application, Justice Okon Abang granted an order freezing the accounts of the former Super Eagles’ captain and Hardley Apartments.

The order, which was to subsist pending the determination of the suit, followed AMCON’s bid to recover the debt.

However, following the transfer of Justice Abang, to another jurisdisction of the court, the matter was reassigned to Justice Aneke.