A Chinese company, Zhongshan Fucheng Industrial Investment Ltd., has successfully repossessed a luxury jet owned by Nigeria in Canada.
This follows the recent seizure of Nigeria’s guest houses in Liverpool, United Kingdom, as part of the company’s efforts to recover $70 million in arbitration awards from the West African country.
According to Peoples Gazette, the Chinese firm has obtained custody of the Bombardier 6000 type BD-700-1A10 aircraft in Montreal. This development comes after a Canadian court ruled in favor of Zhongshang, granting it permission to seize the jet from Nigeria earlier this year.
“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. Zhongshang will not stop seizing Nigeria’s assets worldwide until the last cent of the arbitration awards has been paid,” a source told the news outlet.
The jet, purchased for $57 million by fugitive Dan Etete, was originally seized by Nigeria in 2016. It was later flown to Canada in 2020, where Nigeria obtained a court order for its seizure. However, the recent court ruling has allowed Zhongshang to take possession of the aircraft.
With this latest seizure, Zhongshang has successfully confiscated Nigerian assets in the UK, France, and Canada. The company’s efforts to recover the arbitration awards could result in further seizures in Belgium and the United States.
