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Group Petitions Court Over Aiteo's Alleged Refusal To Pay N259m Debt

October 18, 2019

The order comes following the company’s inability to pay a debt of N259m owed a Port Harcourt, Rivers State-based firm, Charlietam International Services Limited, between December 2017 and March 2019.



A Port Harcourt, Rivers State-based firm, Charlietam International Services Limited, has petitioned the Federal High Court in Lagos, asking it to order the commencement of a wind-up proceeding against Aiteo Eastern Exploration and Production Company Limited, which acquired OML 29 oil bloc in Bayelsa State from Shell Petroleum Development Company in 2015, over its failure to pay a debt of N259m owed it.

The petition was filed through the firm's solicitors, Anthony Enyindah, Victor Okezie and Dr Dickson Omukoro of Ntephe Smith & Wills.

The petitioner is praying the court to wind-up the company on grounds of insolvency pursuant to sections 408 and 409(a) of the Company and Allied Matters Act.

In a six paragraph affidavit verifying the petition, Mr Unye Micah, Managing Director of Charlietam International Services Limited, affirmed that between December 2017 to March 2019, his company rendered services valued at ₦265m and was only paid the sum of ₦6m without payment advice, leaving an outstanding balance of N259m.

The petitioner averred that several demand letters, including those from its solicitors were sent to the company's Abuja and Lagos addresses, but Aiteo refused or failed to respond to any of the letters.

In the said letter, the petitioners demanded to be paid the amount owed and informed Aiteo of an impending legal action.

No date has been fixed for hearing of the petition by the court.


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