Bank asks court to wind up firm over alleged N19.3b debt

A Federal High Court in Lagos has fixed November 2 to hear United Bank For Africa’s (UBA) petition to wind up Integrated Energy Distribution and Marketing Company Ltd for an alleged $47million debt owed the bank.

Justice Daniel Osiagor fixed the date after hearing Messrs Temilolu Adamolekun and Gbenga Akinde-Peters for UBA.

The bank filed its ex-parte application on September 21, 2021 in suit FHC/L/CP/1257/21, seeking to advertise the winding up petition in a national and state daily.

It backed the petition with an affidavit sworn to by its principal officer, Anike Isinguzo.

Granting the application, Justice Osiagor held: “It is hereby ordered that an order is granted for the petition to be advertised in the federal gazette, in one national daily newspaper and one other newspaper circulating within Lagos State, where the registered office or principal place of business of the respondent company is situate.”

“The matter is adjourned to November 2, 2021 for hearing of the petition.”