The sale of two Boeing 737-400 by Med-view Airlines might be suspended following a lawsuit filed by Sheikh Abdulmohsen Al-Thunnayan challenging the sale.
The airplanes with registration 5N-MAA in Estonia and registration 5N-MAB was to be sold as part of efforts to liquidate some of its indebtedness and inject funds to jump-start its operations post COVID-19.
In a letter issued on behalf of Sheikh Abdulmohsen Al-Thunnayan, the Saudi Arabian founder and Chairman of Med-view Airline PLC stated that he is unaware of such sale and has gone ahead to challenge the move in a court of law.
The letter signed by counsel to Sheikh Abdulmohsen Al-Thunnayan, ALP NIG&Co.indicates the matter is currently the subject of Suit No: FHC/L/CS/34/2020 pending at the Lagos Federal High Court.
It read, ” Sheikh Abdulmohsen Al-Thunnayan holds 3, 510,000,000 (three billion five hundred and ten million) shares in Med-View Airlines, representing 36% of the total shares in the company.
Sheikh Abdulmohsen Al-Thunnayan is currently in dispute with the company over the company’s failure to remit dividends due to him on his investment and rendering a proper account of the company’s affairs.
According to the publication, Sheikh Abdulmohsen Al-Thunnayan wishes to inform the general public that he did not receive notice of the meeting where the decision was purportedly taken and has instructed his legal team to take steps to challenge the move.
“Persons seeking to purchase these aircraft (or any other property belonging to Medview Airline) and the general public, are hereby put on notice that any dealings they may have in that regard may form part of the aforementioned lawsuit.”
On July 23rd, 2020 Medview Airlines announced to its shareholders, the Nigerian Stock Exchange (NSE) as well as other Board members at a meeting that it has concluded plans to sell two of its Boeing aircraft as part of efforts to liquidate some of its indebtedness and inject funds to jump-start its operations post COVID-19.
During the meeting, the airline has also accepted the resignation of two of its directors, Mr Ayodeji Ariyo Gbeleyi and Alhaji Oladode Kachet Oyedele.
The airline had said it will sell its Boeing 737-4D7 with registration 5N-MAA which is in Estonia as well as Boeing 737-4D7 with registration 5N-MAB in Lagos.
The airline also sought approval of the return of the leased aircraft engine from the lessor, Aeolus Engine Services Ireland to enable it to preclude the payment of additional rent; engine number CFM5G3CI SN857871.