A Chinese firm, Zhongshang Fucheng Industrial Investment Ltd, has seized a luxury jet owned by the Nigerian government in Canada. The Bombardier 6000 type BD-700-1A10 aircraft, valued at $57 million, was repossessed by Canadian authorities in Montreal, following a court judgment in favour of Zhongshang......Read The Full Article>>.....Read The Full Article>>
According to sources, the change of custodian paperwork was finalized recently, months after a Canadian court granted orders for Zhongshang to seize the jet.
“The court granted orders for Zhongshang to seize the plane earlier this year, but the change of custody from Nigeria to Zhongshang was only recently concluded,” a source familiar with the matter said.
The company has vowed to continue seizing Nigeria’s assets worldwide until the last cent of the arbitration awards has been paid.
“Zhongshang will not stop seizing Nigeria’s assets worldwide until the last cent of the arbitration awards has been paid,” the source added.
The luxury jet was originally purchased by fugitive Dan Etete, who netted over $350 million from the corrupt sale of OPL 245 oil field in 2010. Nigeria seized the aircraft from Etete in 2016 and held it in Dubai before it was flown to Canada in 2020, where Nigeria quickly obtained a court order for seizure and held it at the main airport in Montreal.
Zhongshang moved to seize the jet in 2023, as part of its efforts to enforce arbitration awards of over $70 million against Nigeria. Judge David Collier of the Superior Court of Quebec ruled in favour of Zhongshang, rejecting Nigeria’s arguments and sovereign immunity claim as the recent arbitration in the UK has held.
This development is the latest in a series of seizures of Nigeria’s assets by Zhongshang in various countries, including the UK, France, and Canada.
Despite losing all challenges against Zhongshang in at least five countries, Nigeria maintains it has done no wrongdoing in the lawsuits, which stem from a mismanaged free trade zone contract in Ogun State.
