Arbitration agreements versus insolvency proceedings: the Nigerian Court speaks.

The article discusses the conflict between arbitration agreements and insolvency proceedings in Nigeria. It highlights a case where a foreign investor sought court protection to appoint a receiver manager over a Nigerian entity, despite an arbitration clause in the agreement. The Nigerian Court ruled that while the security deed allowed court jurisdiction, the parties should first explore arbitration as agreed. The Court's approach differs based on whether the case involves insolvency proceedings or civil debt recovery actions. [Extracted from the article]