In early 2009, we were retained as Solicitors to a newly formed Aircraft Leasing and Management Company operating from Lagos Nigeria. We have had cause to advice on several aircraft leasing and management contracts ranging from contracts with crew, pilots, maintenance and engineering companies, Aviation authorities and licensing matters including various suppliers.

We have also teamed up with a maritime law expert in order to expand our scope of services. This has yielded the desired result of attracting briefs in the Nigerian Maritime industry where we have proffered advice on Cabotage (Law) matters, environmental pollution issues, raising finance and Maritime Insurance.

Jaiye Agoro & Co has recently been involved in advising construction companies and property developers in several construction and real estate projects from inception culminating in arranging finance for the project and also arranging mortgages for off- takers. We also carry out a detailed due diligence on the title and ensure all Government building approvals are obtained and taxes settled prior to commencement. To date, we have successfully advised and participated in the completion and subsequent sale or lease of luxurious residential and commercial developments in choice areas in Lagos State and are currently commencing a project in Abuja.

The firm routinely provides representation and advice on Joint Partner Agreement, Nigerian Petroleum Legislation, Petroleum Tax Policies, Oil and Gas Insurance, Obtaining necessary approvals, Permits and Licenses for prospective Oil Investors or Technical Partners etc. Members of the firm regularly attend Oil and Gas seminars in Nigeria and abroad in order to keep abreast of the dynamic nature of the Industry. The firm recently participated in the vetting and restructuring of a loan agreement granting additional facility in the sum of $100 million by a foreign bank to a client for the building of a gas to liquid plant.

The firm regularly represents various Commercial banks and other Financial Institutions on banking law and practice, creation of debentures, mortgages, debt recovery, securities & loan syndications, Mergers and Acquisition.

Jaiye Agoro & Co has an experienced team of barristers that represent Clients in all areas of the law in Nigerian courts especially commercial transactions and Civil & Criminal defense. Recently, our firm successfully argued a novel point of law involving winding up of companies, liquidation and position of workers and directors of a liquidated company at the Court of Appeal where the Court of Appeal upheld the firm’s argument that upon the making of a winding up order, all workers of the company are ipso facto dismissed.

The promotion of Foreign Investments in Nigeria has been emphasized by past and present Governments. The firm has geared up to this challenge. To this end, the firm has been providing advice to foreign interests on the Nigerian Investment law such as various tax incentives, removal of restrictions on equity participation and easier method of capital remittance, procurement of permits and other licenses.

Jaiye Agoro & Co has acted as Legal Consultants to the Liquidator of the Nigerian Telecommunications PLC (NITEL) and its wholly owned mobile subsidiary Mobile Telecommunication Limited (MTEL) in the Federal Government’s bid to sell the Assets and Business Undertakings of both Companies through the “Guided Liquidation” strategy. In the course of this transaction, the firm has advised on Co-location issues, Interconnectivity, Leasing of Ducts, Bandwith allocation and other matters arising from the provision of telecommunication services. We have cause in the process to interface with Regulatory Authorities like the Nigerian Communication Commission (NCC) on Compliance, Licencing and other related regulatory issues. We also related with International Equipment Vendors such as Ericsson, Nokia/Siemens, Huawei and ZTE amongst others either directly or through their accredited representatives. We are also advising on issues surrounding the protection of Nigeria’s interest in the SAT-3/WASC, the West African Submarine Communications Cable linking Portugal and Spain to South Africa and Lagos, Nigeria via the Atlantic Ocean.

The firm in 2012 conducted Receivership proceedings at the Lagos State High Court for a media and entertainment company instituted by a commercial Bank arising from the provision of a Guarantee for the purchase of additional TV content for the company’s sports channels being Carling, Champions League and UEFA Cup for the 2009-2012 worth $109M. The scope of work carried out by the firm included:

• Entered Appearance on behalf of the client in Court
• Filed statement of defence and counter claim
• Filed Preliminary objections challenging the appointment of the Receiver, the validity of the Guarantee and jurisdiction of the Court.

Jaiye Agoro & Co. has also conducted Due Diligence on a Nigerian Public Enterprise in the Steel Industry for a core investor who was eventually declared the preferred bidder.

The firm was also engaged to prepare a port concession agreement on behalf of a successful concessionaire in the Federal Government of Nigeria’s commercialization of the Nigerian Ports Authority.

The firm also advises on Nigeria’s Security Laws and procedure. Members of the firm acted as Solicitors to the issue and advisers on the Privatization by the Federal Government of Nigeria of Federal Palace Hotel, Lagos.

The Firm is currently acting as the Legal Consultants to the Liquidator in the privatisation by way of guided Liquidation of The Nigeria Telecommunications Plc (NITEL) and Mobile Telecommunications Limited (MTEL).

The firm’s experiences on the assignments were as follows:

• Obtaining Court Orders winding up the above Enterprises and appointment of the Liquidator from the appropriate Federal High Courts.
• Advertising the Court Orders and Appointment in the Federal Gazette and Dailies.
• Prepared an Information Memorandum, a sales booklet containing the core and none core assets of the company.
• Advised on the composition of the members of the Committee of Inspection (COI) and also acted as secretary, consequently attended and prepared all COI Minutes of Meetings.
• Participated actively in the verification, reconciliation and payment of workers’ arrears of salaries, allowances and terminal benefits.
• Advised the Liquidator in the ranking process culminating in the payment of debts owed by the Enterprises to secured and unsecured creditors.
• Advised on all Land Matters and was instrumental in obtaining land title documents free from all encumbrances from the Ministry of Lands.
• Advised in the payment of ex-gratia payment to original land owners.
• Resolved all outstanding tax matters inclusive of NSITF claims and other associated issues.
• Prepared an Asset Sale & Purchase Agreement between liquidator and the investors respectively and ensured due execution by both parties.
• Participated in the competitive Bid Process culminating in the selection of the preferred bidder.
• Participated in the Hand-over ceremony.
• Prepared various Deeds of Assignment for sale of none-core assets, mainly landed properties situated in Lagos, Ilorin and Abuja.
• Successfully defended the Liquidator and the BPE in contested litigation at the trial court (Federal High Court), Court of Appeal and presently at the Supreme Court.
• Filed all necessary documents inclusive of yearly Liquidation Accounts at the Corporate Affairs Commission (CAC) Abuja and also Discharge documents both at the Federal High Court and CAC.
• Solving all ad-hoc, ancillary or residual matters arising from the transaction.

The firm has acted as Legal Consultants to the Federal Government of Nigeria (FGN) through the Bureau of Public Enterprises in the FGN’s privatisation strategy known as Privatisation by way of guided Liquidation. The firm has advised the FGN in the sale of State owned enterprises under this strategy such as the Nigerian Sugar Company Limited (NISUCO), Lafiagi Sugar Company Limited and Sunti sugar Company Limited. Jaiye Agoro & Co. also advised the FGN in the privatisation and sale of Savannah Sugar Company Limited to a core investor.