Chinese Takeover? Another Nigerian Jet Seized in Canada By Chinese investors Amidst Rising Tensions!

Chinese investors Zhongshang seize another $57m Nigerian jet in Canada - In a dramatic escalation of the legal battle between Nigeria and the Chinese company Zhongshang Fucheng Industrial Investment Ltd, the firm has seized yet another Nigerian asset—a Bombardier 6000 jet—in Canada. This latest development highlights the increasing complexity and stakes in the ongoing dispute, which has already seen multiple Nigerian assets, including jets and properties, seized across various countries.
The recent confiscation of the Bombardier 6000 in Canada adds to a growing list of Nigerian assets targeted by Zhongshang Fucheng. The jet, valued at approximately $57 million, was initially acquired by Dan Etete, a former Nigerian Minister of Petroleum, who has been embroiled in various legal controversies, including the infamous OPL 245 oil field scandal. The jet was one of the assets that Nigerian authorities had previously seized from Etete in 2016.
Despite Nigeria's efforts to retain ownership of the aircraft, a ruling by Judge David Collier of the Superior Court of Quebec on March 21, 2024, dismissed the country's legal arguments. The judge rejected Nigeria's claims of sovereign immunity and criticized the government for its delayed response to the legal proceedings, which it attributed to the February-March 2023 general elections. With this ruling, Zhongshang Fucheng was granted the right to seize the jet, marking a significant victory for the Chinese company in its broader campaign to enforce an arbitration award against Nigeria.

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