UBA Seeks Court Order To Wind Up Firm Over $47m Debt - THE DAILY CRUCIBLE



Friday, October 15, 2021

UBA Seeks Court Order To Wind Up Firm Over $47m Debt

| The Daily Crucible | Published Friday, October 15, 2021

 A Federal High Court sitting in Lagos has fixed November 2 for hearing of United Bank For Africa’s (UBA) petition to wind up Integrated Energy Distribution and Marketing Company Ltd following an alleged $47million indebtedness to the bank.

Justice Daniel Osiagor fixed the date after hearing Messrs Temilolu Adamolekun and Gbenga Akinde-Peters - counsel for UBA.

The bank filed its ex-parte application on September 21, 2021 in suit FHC/L/CP/1257/21, where it sought court leave to advertise the winding up petition in a national and state daily.

The petition was supported with an affidavit sworn to by Anike Isinguzo, its principal officer.

In granting the application, Justice Osiagor held that : “It is hereby ordered that an order is granted for the petition to be advertised in the federal gazette, in one national daily newspaper and one other newspaper circulating within Lagos State, where the registered office or principal place of business of the respondent company is situate.

“The matter is adjourned to November 2, 2021 for hearing of the petition.”

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