Eroton Exploration and Production has asked Federal High Court in Lagos to halt execution of interim orders that placed the firm under administration, citing jurisdictional defects and alleged procedural irregularities.

The company, through its counsel, Dr. Joseph Nwobike (SAN), leading Collins Ogbonna of Osborne Law Practice, urged the court to stay action arising from interim ex-parte orders issued on January 20 and 29, pending determination of applications challenging the court’s jurisdiction and validity of the orders.

The company has filed three applications: a motion on notice seeking to set aside the interim orders and restrain their execution; a notice of preliminary objection contesting the court’s jurisdiction; and a substantive motion for a stay of execution and injunctive relief to preserve the status quo.

Eroton contends that Federal High Court lacks jurisdiction to entertain the suit and that the orders were granted without full disclosure of facts.

The firm further argued that the initiating party is not a juristic entity entitled to seek administration under Companies and Allied Matters Act, 2020.

In an affidavit sworn to by Felix Deckon, senior litigation officer at Osborne, Eroton said the orders disrupted its operations and impaired its ability to meet financial obligations.

The firm said it operated OML 18 between 2015 and 2023 and holds a petroleum licence valid till 2038.

Eroton is seeking orders restraining Lagos State Internal Revenue Service (LIRS), the appointed administrator, and over 40 parties from acting on the orders, as well as setting aside steps already taken.

The orders followed proceedings initiated by LIRS, which led to appointment of Mr. Amala Umeike, an insolvency practitioner, as administrator of Eroton.

Umeike issued notices to the firm’s management, including a letter of February 6, convening a meeting today at Stren & Blan Partners in Lagos.

No date has been fixed for hearing of the applications.

Source; The Nation News