AMCON AND HEYDEN PETROLEUM RESOLVE DISPUTE, LITIGATION DROPPED
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The Asset Management Corporation of Nigeria (AMCON) has announced that it has amicably resolved its dispute with Heyden Petroleum Limited, owned by Governor Dapo Abiodun of Ogun State . According to AMCON, Heyden Petroleum has demonstrated commitment to meeting its obligations and has been making payments accordingly.
As a result, AMCON has formally discontinued its pending litigation against Heyden Petroleum, specifically Suit No. FHC/AMC/67/2024 . This development brings an end to the controversy surrounding the alleged bankruptcy of Heyden Petroleum and its potential takeover by AMCON.
AMCON emphasized that it does not engage in media trials of obligors who are meeting their obligations, and urged the public to disregard any negative commentaries on the relationship between AMCON and Heyden Petroleum
This resolution highlights AMCON’s commitment to resolving disputes in a fair and professional manner.
Background on the Dispute
– _Initial Reports_: AMCON had filed a suit to take over Heyden Petroleum due to alleged bankruptcy .
– _Court Ruling_: The Lagos Division of the Federal High Court granted an interim order in favor of AMCON on October 29.
– _Resolution_: AMCON and Heyden Petroleum reached an agreement, leading to the discontinuation of litigation .
