Chinese Firm clutch Another Nigerian Jet In Canada - Politics

A Chinese company, Zhongshang Fucheng Industrial Investment Ltd, has   finished  the repossession of a   luxurious  jet owned   through  Nigeria in Canada, as   a part of  its ongoing confiscation of Nigerian   property  globally.

The   plane , a Bombardier 6000   kind  BD-700-1A10,   turned into  passed  over to Zhongshang following a   latest  exalternate  of custodian   office work  finalized   through  Canadian   government  in Montreal,   in keeping with  reassets  acquainted  with the mattermatter   instructed  News360 Nigeria

This   improvement  follows a Canadian   courtroom docket  ruling   in advance  this year, which empowered Zhongshang to   capture  the jet from Nigeria.

Despite   tries  through  Nigeria to   preserve  ownership, Judge David Collier of the Superior Court of Quebec   brushed off  the country's arguments on March 21, 2024.

The jet,   bought  for $  fifty seven  million   through  fugitive Dan Etete with proceeds from the   arguable  OPL 245 oil   discipline  sale,   have been  seized   through  Nigeria in 2016 and   turned into  held in Dubai   earlier than  being flown to Canada in 2020.

Zhongshang's seizure of the   plane  is   a part of  its broader efforts to   implement  arbitration awards amounting to over $70 million   in opposition to  Nigeria, following a failed   unfastened  exchange  region  agreement  in Ogun State.

The Chinese   company  has already seized Nigerian   property  withinside the  UK, France, and Canada, with   in addition  confiscations   predicted  in Belgium and the United States.

Despite Nigeria's repeated   felony  demanding situations  throughout  5  countries, the   country  has been unsuccessful in   stopping  those  seizures and   maintains  to disclaim  any wrongdoing   withinside the  case.

Meanwhile, efforts to   remedy  the dispute   thru  negotiations with Zhongshang have made little progress. The   today's  improvement  has   now no longer  but  been addressed   through  President Bola Tinubu's administration.
https://news360ng.com/chinese-  company -seizes-another-nigerian-  luxurious -jet-in-canada-amidst-asset-confiscation-trend/

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