Medview: Aircraft lease not affected by suit

By Kelvin Osa-Okunbor

Medview Airlines said on Monday that the suit by its Chairman, Sheikh Abdul Mohsen Al Thunayan, would  not affect the sale, lease of its aircraft or its operation.

Its Managing Director, Alhaji Muneer Bankole, who made this known, said plans to sell two of its aircraft remained  because the Deed of Aircraft Mortgage and De- Registration Power of Attorney between it and its banker – FirstBank of Nigeria Plc – confers on the financial institution sole right of a mortgagee.

Such right, Bankole said, gives the bank the right over the aircraft.

Bankole saidThuanayan had filed a suit on the non-payment of dividends to him at the Federal High Court, Lagos.

unwavering support to acquire the two aircraft even with their approval of the sale of 5N-MAA and 5N-MAB.”

According to him, the directors of the airline were all notified of the meeting, including the Nigerian Stock Exchange Commission (NSE), stressing that this was in-line with the regulations guiding quoted companies.

He noted that in the exercise of its legal rights therefore, the bank considered and approved the sale of the two aircraft with the sale’s proceeds applied towards part liquidation of Med-View’s exposure to the financial institution.

“This clarification becomes necessary therefore to inform interested purchasers of the two aircraft.

“First Bank in exercise of its lien power as the sole mortgagee therefore has the competence and capacity to approve the sale of the 5N-MAA and 5N-MAB aircraft.

“Interested persons and organisations should therefore submit/conclude their offers for consideration and acceptance accordingly,” he said.