MainOne Cable Seeks Winding up of Mobitel over Unpaid Debt

28 Mar 2013

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Ms. Funke Opeke, CEO of MainOne Cable

By Davidson Iriekpen

MainOne Cable Company Nigeria Limited has asked a Federal High Court in Lagos to wind up Mobitel Limited for its inability to pay the $613,863 debt the firm is owing it.

Main One wants the court to grant it an order permitting it to advertise the winding up petition against Mobitel in the federal gazette and two national newspapers 15 days before the hearing of the suit.

It also wants the court to grant it an order allowing the advertisement to state the day on which the petition was presented, its name and address and its solicitors to enable any person willing to appear at the hearing of the petition either to oppose or support to send notice of the their intentions to it.

In the petition obtained by THISDAY, Main One averred that Mobitel had, despite its several demands, continuously failed and refused to liquidate the debt it incurred for the services it rendered pursuant to the agreements they reached and the services it rendered to the firm.

The petitioner alleged that it issued a demand letter on November 25, 2012, which was received and acknowledged by the company on November 26, 2012 and that the respondent in spite of this, still failed to liquidate the outstanding debt being the outstanding of their transactions.
It stated that it subsequently notified the respondent, via a letter dated January 28, 2013, of an audit of its financial statements for the year ended December 31, 2012 and sought Mobitel’s confirmation of its outstanding debt owed the petitioner as at December 31, 2012.

It also disclosed that on February 5, 2013, Mobitel endorsed the letter dated January 28, 2013 with a confirmation of the amount it was owing to the petitioner as at December 31, 2012.

The firm averred that it finally forwarded a statutory letter of demand dated February through the solicitors to Mobitel, demanding payment of the admitted debt within 21 days which it had failed and refused to do.

The firm further averred that being an unpaid creditor of the company, it was entitled to bring the petition, arguing that the failure of Mobitel to pay its debt is inimical to the survival of its business operations and survival.

The firm appealed to the court that under the circumstance, it was just and equitable for Mobitel to be wound up in the interest of justice.
It also appealed to the court to grant all the reliefs it is seeking accordingly.

Tags: Business, Nigeria, Featured, MainOne, Mobitel

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