Court dismisses wind-up suit against AITEO

IKOYI, Lagos, Nigeria – A Federal High Court, sitting in Ikoyi, Lagos has dismissed a wind-up suit filed against indigenous oil company, Aiteo Eastern Exploration and Production Company Limited (AEEPC).

The trial judge, Justice Olufemi Oguntoyinbo dismissed the wind-up suit, following an application made by counsel to AEEPC, Mr. Emeka Ozoani (SAN) to dismiss the application in opposition to withdraw of application made by counsel, A. A. Adekeye,  to Charlietam International Services Limited (CISL) the petitioner in the suit.

The petitioner, CISL in a suit filed through his solicitors, Anthony Enyindah, Victor Okezie and Dr Dickson Omukoro of Ntephe Smith & Wills Chamber, had urged the court to windup AEEPC, over alleged inability to pay N259, 068,753.00 million debt. The petitioner, a Rivers State based oil servicing company, in the suit numbered FHC/LA/CS/1818/2019, accused Aiteo of failing to pay the money for services rendered to the respondent between December 2017 and March 2019.

The petitioner had told  the court that the application to wind-up AITEO Eastern Exploration and Production Company Limited (AEEPC) was on grounds of insolvency, pursuant to sections 408 and 409(a) of the Company and Allied Matters Act. At the resumed hearing of the matter, Adekeye, who claimed to be representing the petitioner, informed the court that she has an undated application, seeking to discontinue the petition against AEEPC.

She said: “We have a notice of discontinuance, we have served the respondents and they are aware of the application”. In adopting the the notice of discontinuance, Adekeye told the court that it was in consonant with Company and Allied .

Responding, counsel to AEEPC, Mr. Ozoani (SAN) who led Mr. Joseph I. Nwatu and and Mrs. Mmesoma Unaeze, while admitting service of application, told the court that he was served with the notice of discontinuance in court ‘this morning’.  He however, told the court that it is for parties to address the court on the petitioner’s application since issues had been joined on the wind-up application.

Ozoani also told the court that the petitioner had gone to press, especially,  October 19, 2019 edition of This Day newspaper, without court order, the development he said had caused apprehension to the clients of the respondent.

He cited a uthority of Air Via Limited Vs Oriental Airlines Ltd (2004) 9 NWLR (Part 878) 298, at 342 B-C to support his arguments that winding up petition cannot be used to established a disputed debt. He also urged the court to dismiss the petition on the authority of Abayomi Babatunde Vs Pan Atlantic Shipping and Transport Agencies & Ors (2007) 13 NWLR (pt. 1050) 113. 

He also asked for cost of N 10 Million against the petitioner for injuring the reputation and corporate image of Aiteo by jumping the rules of court and publishing the petition on October 19, 2019 without the leave of the court. While delivering ruling on the parties submissions, Justice Oguntoyinbo held that: “I have listened to the petitioner’s counsel who prayed the court to withdraw the petition after she had adopted it. 

“The undated process is defective, the learned Silk have asked that the petition be dismissed. Parties cannot asked for anything else once issued are joined. The petitioner went against the rule of the court by having the petition published in This Day newspaper when the matter has not be heard by the court. The petitioner did not take necessary caution.

“The petition is hereby dismissed and the cost of N8 million awarded in favour of respondent against the petitioner”. Justice Oguntoyinbo also congratulates Ozoani (SAN) for his attainment on the rank of the senior advocate, since he is appearing before him for the fist time since he was conferred.