Adeniyi Adegbonmir SAN FCI.ARB

Adeniyi is a Senior Partner in the Litigation and ADR Department of Aluko & Oyebode (the “Firm”). His areas of specialisation include insolvency and debt recovery, banking, real estate, commercial litigation and arbitration. He also advises on all aspects of Nigerian Litigation practice and procedure. Adeniyi heads the Firm’s Real Estate, Insolvency and Debt Recovery Practice Groups.

Adeniyi is an experienced lawyer and has represented a wide range of clients, including oil companies, multi-national corporations, banks and other financial institutions, telecommunication operators on various litigation and arbitration proceedings.  He regularly represents Nigerian as well as foreign and multinational clients in Ad Hoc arbitrations and arbitrations administered by arbitral institutions.

Adeniyi has a very pragmatic approach to dispute resolution and he has employed this approach and his wealth of experience in providing legal services to local and multinational companies involved in litigation and arbitration.

Chambers Global 2013 praised his pragmatic approach. “His strength lies in plotting a good strategy,” says one source, adding: “He’s interested in finding a good commercial resolution to the matter.”

Adeniyi has a sound understanding of intricate and complex insolvency and debt recovery issues. His resolute commitment to the best interest of his clients in transactions and the inevitable attendant success makes him an invaluable member of the team. He is a thorough professional.

Adeniyi speaks English and Yoruba languages fluently.

• Member, Body of Senior Advocates of Nigeria
• Fellow, Chartered Institute of Arbitrators
• Member, Lagos State Land Use Charge Appeal Tribunal
• Member, International Bar Association
• Member, Nigerian Bar Association
• Member, Business Recovery and Insolvency Practitioners Association of Nigeria (BRIPAN) (INSOL International)

1988: Called to the Nigerian Bar

1987: University of Ife, Ile Ife, Nigeria, LL.B. (Hons)

1993 – Date: Associate, Senior Associate, Partner, Aluko & Oyebode

• Chambers Global: 2022 Band 3 Ranking, Dispute Resolution – Nigeria
• Who’s Who Legal (WWL): Recommended Global Leader, Commercial Litigation 2021
• Who’s Who Legal (WWL): Recommended National Leader, Nigeria – Litigation, Construction & Real Estate, Restructuring & Insolvency 2021
• IFLR1000: Highly Regarded & Leading Lawyer Recognition 2020
• Legal 500 Europe, Middle East & Africa 2018, Real Estate and Construction – Leading Individuals
• Nominated as one of Nigeria’s Top 100 leading lawyers by members of the Legal Profession

“He’s a very confident lawyer.” “I think he’s one of the most active and brilliant lawyers we see.”– Chambers Global, 2022

“Adeniyi Adegbonmire is highly sought after for his sterling advice to clients on complex insolvency proceedings.” — Who’s Who Legal (WWL), 2021

“I have very high regard for Adeniyi.” – Chambers Global 2021

Arbitration

• Acting as lead counsel to one of the parties in the arbitration proceedings initiated by Waltersmith at the International Chamber of Commerce in connection with a dispute which arose out of a 2010 agreement which governs the relationship between members of a consortium assembled to purchase an interest in an oil block in Nigeria. This Arbitration was an upshot of a domestic arbitration between the parties and which was concluded by an Award published in February 2012
• Represnting one of the parties in connection with the Waltersmith Domestic Arbitration.
• Acting as Sole Arbitrator in a commercial dispute between Logistics Xpeditors and Lafarge Africa.
• Acting for a client in connectionw with an arbitration against the Ogun State Government.

Debt Recovery, Receiverships and Insolvency

• Representing Asset Management Corporation of Nigeria (AMCON) in connection with the appellate proceedings before the Supreme Court arising from an action to recover approximately NGN 5 billion from a Petroleum company.
• Representing AMCON in connection with proceedings to wind up MRS Holdings due to its persistent failure to settle a judgment approximately of NGN 7 billion, including representing AMCON in bankruptcy proceedings before the Federal High Court against one of MRS’ alter egos in the recovery of NGN 350 million.
• Advising two foreign financial institutions in connection with the recovery of debts owed by a Nigerian company, which arose from financing provided by the foreign financial institutions to the Nigerian company for the development of its flagship mall in Lagos, Nigeria, including proving advice relating to enforcement of security, facilitating an out of court arrangement which led to a sale of a significant asset belonging to the Nigerian company. Sale proceeds in the region of NGN 5.5 billion were deployed towards reducing the outstanding debt.
• Appointed by AMCON to act as receiver/manager of AeroContractors Nigeria, a Nigerian airline, following a debt in excess of the sum of NGN 11.5 billion. The Firm was also retained as counsel to represent AMCON in proceedings instituted to prevent any unlawful interference with the receivership. As Receiver/Manager. Adeniyi has with the support of a professional management and technical team, managed the airline and dealt with various matters ranging from regulatory issues of licensing and permits, technical issues of contract negotiation with aircraft lessors, charterers and employees/labour unions as well as suppliers of consumables and other trade creditors. He will continue to manage the operations of the airline until the debt owed to AMCON is recovered.
• Acting for the AMCON in connection with its capacity as creditor in various disputes against delinquent debtors.
• Acting for a majority shareholder and creditor in connection with the liquidation of Woolworths Retail Stores in relation to trade debts and a shareholder loan of about ZAR 15 million.

Other key insolvency matters Adeniyi has been involved with are as follows:

• Torno v. Access Bank: Acting for Access Bank in connection with a claim for the alleged undervalued sale of a mortgaged asset by the receiver.
• Torno International (In Receivership) v. Pietro Di Constanzo: Acting for the receiver manager and the company in connection with an action instituted to obtain certain declaratory reliefs to confirm the appointment of a receiver/manager who was appointed for the purpose of recovering debt from a debtor company as well as an injunction restraining directors of the debtor company from interfering with the exercise of powers of the receiver/manager.
• Mitsui & Co Tokyo (MBK Nigeria): Acting as liquidator in a voluntary winding up.
• Eutelsat SA v. Highway Entertainmen: Acting for the creditors of Entertainment Limited in the winding up procedure.
• AOS Practice v. Access Bank: Acting for Access Bank in connection with a winding up petition against our client on the basis of an alleged inability to pay its debt to the Plaintiff, including defending the winding up petition which was eventually dismissed as the debt in issue was bona fide disputed.

Real Estate

• Advising a Nigerian financial institution in coming up with a suitable structure to take out close to 200 non-core real estate assets from the bank’s balance sheet within a very aggressive timeline in order to meet a regulatory deadline set for a disposal of the assets.
• Advising Standard Chartered Bank Nigeria in connection with the acquisition of both its Lagos and Abuja offices both valued then at above USD 12.57 million.
• Advising MTN Nigeria Communications in connection with the acquisition of various Friendship centers located in Abuja, Lagos, Port Harcourt and Ibadan and valued at the time at over USD10 million.
• Acting for a consortium of companies in connection with the acquisition of an oil base and logistics facility off the coast of Lagos.
• Advising Assets & Resources Management in connction with the negotiations leading up to the acquisition of a property valued at USD 1.5 million for the development of its Fara Park Estate in Lekki, Lagos.
• Advising Schlumberger Nigeria in connection with the acquisition of its Schlumberger Industrial Complex in Port Harcourt Nigeria valued at USD 1 million.
• Advising MTN Nigeria Communications in connection with the acquisition of various switch sites/base stations located in Abuja, Lagos and Port Harcourt.

Banking

• Advising various banking entities, including Standard Chartered Bank Nigeria, Citibank Nigeria, Access Bank amongst others, at both the High Court and the Appellate Courts.

Reported Cases

• Agip (Nigeria) Ltd v. Agip Petroli International & Ors SC/351/2002 [2010] 5 NWLR (Pt.1187) 348
• Adiatu Ladunni & Another v. WEMA Bank Limited & Anor [2010] LPELR-4418 (CA)
• JVC Professional Products (U.K.) Ltd. V. Mr. Michael Famuyide & Others [2011] 4 NWLR (Pt. 1238) 572
• Pacers Multi-Dynamics Ltd v The M.V. Dancing Sister & Anor SC/238/2001: [2012] 4 NWLR (Pt.1289) 169
• Abiola & Sons Bottling Company Limited v. Seven-Up Bottling Company Limited & Others [2012] 15 NWLR (Pt. 1322) 184
• Boja Investment v. Akin Taylor [2014] 15 NWLR (Pt. 180)
• Braithwaite v. S.C.B. (Nig.) Ltd [2012] 1 NWLR (Pt. 1281) 301
• Tunji Braithwaite v Standard Chartered Bank Nigeria Limited [2012] 9 NWLR (Pt. 1305) 304
• Standard Chartered Bank Nigeria Ltd. V. Braithwaite [2013] LPELR-20814 (CA)
• Citibank Nigeria Limited v. Gratis Properties Limited [2015] LPELR-24817 (CA)
• Standard Chartered Bank Nigeria v. Kasmal Financial Services Limited [2017] 27 TLRN 1.