Admin l Wednesday, April 25, 2018
IKOYI, Lagos, Nigeria – Major sponsor of the Big Brother Naija franchise, Payporte Global System Ltd is now in trouble over N17. 1 million debt it is owing Vacant Board Ltd, one of its client, when it procured judgement againt it to the tune of N23.1 million. Payport, accordingly paid N5 million but failed to pay the balance since the judgement was delivered forcing Vacant Boards Ltd to institute the suit seeking to winding up the company, which operates an online store.
In a notice of preliminary objection, Payporte contended that the court lacked jurisdiction to entertain the suit. It described the suit as defective, null, void and an abuse of court process and prayed the court to dismiss the winding up suit with a substantial cost against the petitioner.
The petitioner had in 2015 filed a debt recovery suit against Payporte before the court. In a judgment delivered on May 27, 2016, the court awarded the sum of N23.1 million against Payporte in favour of Vacant Boards. The petitioner, however, submitted that on Feb. 27, 2017, Payporte made a part payment of N5 million, leaving a balance of N17.1 million which it had yet to liquidate.
It consequently filed a suit on Dec. 29, 2017, asking the court to order winding up of Payporte. However, in the notice of preliminary objection on Wednesday, Payporte argued that the petition for winding up did not comply with the provisions of Sections 5 and 6 of the Companies Winding-Up Rules, 2001. Mr Ogedi Ogu, lead counsel to Payport informed the court of the notice of preliminary objection.
He also said that he had been served with a counter-affidavit by the petitioner, and would need time to respond to it. Justice Ayokunle Faji adjourned the case until June 12 for hearing.
