Bicourtney, Babalakin Deny Indebtedness To AMCON
Ahmed Kuru, AMCON MD. Image: Taddall

The Chairman of Bicourtney Wale Babalakin (SAN) has said he and his companies are not indebted to the Asset Management Corporation of Nigeria (AMCON).

The came just as AMCON released a list of its debtors on Monday.

Advertise With Us

But Babalakin and Bicourtney via their lawyer Olawale Akoni on Monday said it was libelous for AMCON to publish the list of “delinquent debtors.”

He said his clients were not indebted to the AMCON, contrary to the organization’s claims.

In addition, he said that in 2012, AMCON had claimed that Bicourtney Limited (N20billion) Roygate Properties Limited (N9billion) and Resort International Limited (N20billion) were indebted to it.

He noted that a Federal High Court in Abuja had in April 2012 ordered that whatever debt was outstanding to any Federal agency by Bicourtney and companies related to it should be deducted from the sum of N132billion which the Federal Government owed Bicourtney Limited.

“The effect of this judgment is that as at that day, Bicourtney and companies associated with it had a judgment credit of N132b –N20b – N20b – N9b =N83billion,” he said.

“Bicourtney had a net judgment credit of N83billion.”

Furthermore, he said that AMCON lost a case against Resort International in which it claimed N20billion.

“As a responsible news organisation, we believe it is necessary to bring this irresponsible action of AMCON to your attention and warn you to refrain from following the bandwagon of AMCON’s delinquent behaviour,” Akoni added.