The Federal High Court in Abeokuta will today hear a receivership suit between the Asset Management Corporation of Nigeria (AMCON) and a cocoa processing company, Multi-Trex Integrated Foods Plc.
AMCON is claiming the firm owes it N13.3 billion, which includes a contested eligible bank asset (EBA) of N8.5 billion bought from Skye Bank and interest.
Justice F. Ogunbanjo had last June 12 granted an order granting possession to AMCON; the factory had remained closed since then.
Multi-Trex is claiming that its acquisition by AMCON is unlawful as it was meeting all its financial obligations with Skye Bank before the N8.5 EBA was acquired.
It added that it has made a full and final payment of N6billion to AMCON.
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