**Court Takes Over AMNI's Affairs to Protect Creditor Interests** In a significant development, the Federal High Court sitting in Lagos has ordered the supervised administration of AMNI International Petroleum Development Company Limited, following a creditor action brought by CCM Vessel Management Company Limited. This ruling, which comes on the heels of a similar order made last week, underscores the growing trend of corporate insolvency in Nigeria's oil and gas sector. Under the Companies and Allied Matters Act (CAMA), 2020, the court is empowered to intervene in the affairs of a company that is found to be insolvent. In this case, the court appointed Mr. Sam Aiboni as the Administrator/Receiver-Manager of AMNI, with the authority to take possession of the company's assets, including its office premises in Lagos and operational assets connected to its upstream petroleum activities. The administration order is a creditor-specific measure aimed at protecting the interests of CCM Vessel Management Company Limited, which has outstanding claims against AMNI amounting to $2,625,429.21. According to Mr. Aiboni, the court relied on statutory provisions that empower judicial intervention where a company is found to have met the prescribed conditions under CAMA, 2020. Court-supervised administration is a statutory mechanism designed to provide independent oversight of a company's affairs, preserve the value of corporate assets, and facilitate restructuring or orderly management. This approach is becoming increasingly relevant in Nigeria's oil and gas sector, where corporate insolvency is on the rise. In recent months, the court has made several similar orders in separate creditor actions, highlighting the need for effective corporate rescue and creditor-protection mechanisms in Nigeria. The AMNI case is a stark reminder of the importance of transparency and accountability in corporate governance, particularly in the high-stakes oil and gas industry. As the administration process unfolds, it remains to be seen how the various stakeholders, including creditors, shareholders, and regulatory authorities, will navigate the complex web of interests and obligations. One thing is clear, however: the court's decision is a crucial step towards protecting the interests of creditors and ensuring that AMNI's assets are managed in a transparent and orderly manner.