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Firm faces liquidation suit over alleged N153m debt


LawIn a bid to recover an alleged debt of N153 million, a limited liability company, AMY Shafa Limited, has filed a winding-up petition against a petroleum product marketing company, Japaul Energy Limited, at the Federal High court, Lagos.

In the suit initiated by Chris Ekemezie, it was alleged that the energy firm offered to sell to AMY Shafa two million Premium Motor Spirit (PMS) at N76.6 per litre, totaling N153 million.

The quantity in question was to be lifted by the petitioner from a farmland known as Mainland Oil Depot in Calabar, Cross River State between October 5 and 12 last year.

Pursuant to the offer, the petitioner claimed that it paid the respondent N153 million on September 22 last year with the company issuing a receipt signed by one Amondi Ashang, the Operation Manager of the respondent.

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