A Federal High Court in Lagos, on Wednesday, fixed Feb 26 to deliver ruling in a preliminary objection raised in a suit seeking the winding up of the sponsors of the Big Brother Naija Show, Payporte Global System Ltd.
Justice Ayokunle Faji fixed the date for ruling after counsel to all parties to the suit moved their respective applications before the court.
The petitioner (Vacant Board) filed a debt recovery suit against Payporte, before a Lagos High Court in 2015.
The Court had in its judgment delivered on May 27, 2016, awarded the sum of N23.1 million against Payporte, in favour of the petitioner.
The petitioner, however, contends that on Feb 27, 2017, the respondent made a part payment of N5 million, leaving a balance of N17.1 million which it has failed to liquidate till date, inspite of several letters of demand.
It therefore, filed a winding up petition before the Federal High Court on Dec. 29, 2017, asking it to wind up the company.
When the case was called, on Wednesday, Yemi Fajuyitan announced appearance for the plaintiff while Voke Borlokor appeared for the respondent.
Respondent counsel then first moved his application for extension of time to regularize his court processes.
He also moved his preliminary objection to the winding up application by the plaintiff.
On his part, plaintiff counsel moved his counter affidavit to the preliminary objection by the respondent, while the respondent counsel in turn, moved his reply on points of law to the counter affidavit of plaintiff.
In its notice of preliminary objection, the respondent, is challenging the jurisdiction of the court to entertain or even hear the petition
Respondent counsel contends that the said petition for winding up, failed to comply with the provisions of sections 5 and 6 of the Companies Winding-Up Rules, 2001.