Justice Chukwujekwu Aneke of a Federal High Court, Ikoyi, Lagos, has ordered UNITERM Nigeria Limited to advertise its winding-up petition in the Federal Gazette, The Punch Newspaper and in The Sun Newspaper within 14 days from the date the order was made.
The judge gave the order pursuant to Rule 19 of the Companies Winding-Up Rule 2021 and under the inherent jurisdiction of the court, against Oriental Energy Resources Limited on March 23, 2023.
In its Motion on Notice designated FHC/L/CP/1256/2022 and brought pursuant to Rules 4 and 19 of the Companies Winding Up Rules, 2001; Order 26 Rules 1, 2, & 3, Federal High Court (CIVIL PROCEDURE) Rules, 2019; and under the inherent jurisdiction of the court, UNITERM Nigeria Limited had asked the court for “An order granting leave to the petitioner to advertise its petition for winding-up against the respondent in two (2) National Daily Newspapers, fifteen (15) clear days before the hearing of the petition.
“An order directing that the advertisement shall state the day on which the petition was presented, the name and address of the petitioner and its counsel, and shall contain a note at the foot thereof stating that any person who intends to appear at the hearing of the petition either to oppose or to support the petition, must send a notice of intention to the petitioner or its counsel within the time and manner prescribed by law.
“And such further or other order(s) as this Honourable Court may deem fit to make in the circumstances of this case”.
The grounds upon which the application was brought were that, “The petitioner has filed a petition for winding-up of Oriental Energy Resources Limited on the ground of the inability of the respondent to pay the debt owed to the petitioner.
“The petition has been served on the respondent in line with the rules governing service under the Companies Winding—Up Rules by the Bailiff of this Court.
“Leave of court is required to advertise the petition of the petitioner for winding-up of the respondent.
“Advertisement of the petition is a condition precedent to hearing of a petition for winding up of a company.
“The court is vested with inherent powers and discretion to grant this application.
“The interest of justice demands that this application be granted”.
In an affidavit in support of the motion for advertisement deposed to by a Litigation Executive, Chika Ohanekwu, the deponent stated that UNITERM Nigeria Limited filed a petition for winding-up of Oriental Energy Resources Limited on grounds of non-payment of debts due to the petitioner (UNITERM Nigeria Limited) for credit facility granted to the respondent (Oriental Energy Resources Limited) among other claims.
According to the deponent, the leave of court is required to advertise a petition for winding up of a company before the petition for winding up can be heard.
While stating that the advertisement of a petition for the winding up of a company is a condition precedent to the hearing of a motion for winding up, the deponent insisted that the court has the power and jurisdiction to grant leave to the petitioner to advertise the petition against the respondent so as to satisfy a condition precedent for the hearing of the petition.
In its written address before the court, UNITERM Nigeria Limited through its counsel, Uchechukwu Obi (SAN) submitted that the sole issue for determination by the court is whether the petitioner (UNITERM Nigeria Limited) has satisfied all the conditions precedent for the grant of the application for an order for the advertisement of a winding up petition.
The SAN maintained that UNITERM Nigeria Limited has satisfied all the conditions precedent for the grant of the application in that it has filed a valid petition before this court and the same has been served on the respondent (Oriental Energy Resources Limited) in line with the Federal High Court (Civil Procedure) rules, 2019 and the Companies Winding-Up Rules.
But in urging the court to dismiss the application, Oriental Energy Resources Limited through its lawyer, Funke Agbor (SAN), asked for an order dismissing or striking out the petition and all pending applications filed by the petitioner for being incompetent and a gross abuse of the process of the court.
