A Federal High Court in Lagos has granted an order for stay of execution of a judgment in a suit filed by Cenroc FPSO Solutions Nigeria Ltd, against AMNI International Petroleum Development Company Ltd.
  
Justice Chukwujekwu Aneke granted the order while ruling on a motion for stay of execution of an order of the court delivered on February 13, in the suit marked FHC/L/L/CS/1454/2025.
  
The applicant’s action against the defendant stems from an underlying commercial relationship and contractual engagements with AMNI.
  
The applicant had approached the court through an administration application filed on July 23, 2025, seeking, among other reliefs, a declaration that AMNI had become unable to pay its outstanding debt to the company.
  
It had also asked the court for an order appointing one Mr Sam Aiboni as administrator over the affairs of the defendant.
  
On February 13, Justice Aneke granted the reliefs and consequently appointed Aiboni as administrator of the company.
  
Dissatisfied with the judgment and the order appointing the administrator, the respondent filed an appeal against both decisions.
 
The respondent also asked for a stay of execution of the judgment, pending the determination of the appeal.
  
Delivering his ruling on the application on Thursday, Justice Aneke held that the judgment/debtor had made out a case, warranting a grant of stay of execution.
  
The court held: “Therefore, having carefully considered the materials placed before this honourable court especially exhibit AO1 attached to the affidavit in support of the application, it is my view that the defendant/applicant has made out a case for the grant of the said application for stay of execution of the judgment of this court delivered on February 13, 2026 and I so hold,” he said.
  
Meanwhile, Justice Aneke distinguished an administrator and a receiver under the provisions of the Companies and Allied Matters Act (CAMA) 2020, indicating that in the instant suit, the court’s order was for an administrator and not a receiver.
  
Aneke held: “However, before putting my pen down in respect of this suit, I must correct the impression created by the first appointed administrator in processes, as if receivership is synonymous with administration.”

He explained that in a receivership, a receiver acts as an agent and is accountable only to the appointing creditor, who also bears liability for his default, while administration is aimed at reviving distressed but viable companies.