Fuel Supplier Wants Court to Wind Up Primero, BRT Operator over Alleged Debt

An indigenous petroleum firm, Petrocam Buying and selling Nigeria Restricted, has utilized to a Federal Excessive Courtroom in Lagos for the winding up of Primero Transport Service Restricted, the operator of Bus Fast Transport (BRT) over an alleged N63.466 million.

The petitioner, (Petrocam), in a go well with, marked FHC/L/CP/1702/20, introduced earlier than the court docket, pursuant to Order 19, Rule 1, of the Firm Winding- Up Guidelines 2001, was asking for the go away of the court docket to promote the Primero’s winding-up petition within the Gazette and in NAIJATABLOID or every other extensively circulating newspaper.

The petitioner accused Primero of continued failure to pay the debt of N63. 466 million.
In its petition, an affidavit in help of the petition deposed to by its Monetary Supervisor, Mr. Taiwo Abiodun, the petitioner acknowledged that someday between January 2019 and January 2020, upon the request of the respondent, the petitioner equipped automated gasoline oil, lubricant oil, and kit oil well worth the sum of N174. 046 million.

He acknowledged that the provision was made on credit score on the settlement that the respondent would pay N10 million as advance cost earlier than the supply and steadiness cost inside 30 days after the bill date.
He acknowledged that Petrocam equipped the automated gasoline oil as agreed nonetheless, opposite to the settlement of the events, the Primero didn’t make cost to the petitioner.

He acknowledged that when Primero Transport Service Restricted didn’t pay the cash as agreed, a number of letters had been written to Primero to liquidate its excellent indebtedness within the sum of N113, 446, 000, and that upon receipt of the letters, the respondent solely paid a paltry sum of N1,866,000, N28, 114,000 and N20 million, leaving the sum of N63.466 million, as excellent.

He additional acknowledged that when it turned evident that the respondent didn’t need to pay the excellent debt, the petitioner instituted a Go well with marked FHC/L/CP/1239/20 towards the respondent nevertheless it was discontinued attributable to a promise allegedly by the Respondent to pay the overall excellent sum by November 6, 2020, however the respondent has regardless of receipt of the mentioned letter failed and or uncared for to accede to identical.

He acknowledged that the respondent, having totally utilised the merchandise and regardless of a number of and protracted calls for by the petitioner, the respondent has willfully failed, refused, or uncared for to repay the excellent sums as a result of petitioner.

He additionally acknowledged that the respondent has not in any method in any way denied its indebtedness to the petitioner, however has turn into bancrupt therefore unable to pay its debt.

He acknowledged that pursuant to Sections 571 (d) and 572 (a) of the Corporations and Allied Issues Act 2020, Primero Transport Providers Restricted has proven its incapacity to pay its money owed opposite to Part 571 and 572 of the Corporations and Allied Issues Act 2020.

He, due to this fact, urged the court docket to declare that Primero Transport Providers Restricted be wound up beneath the provisions of the Corporations and Allied Issues Act.

Nonetheless, in its response, Primero Transport Providers Restricted urged the court docket to dismiss the winding-up go well with on the bottom that the debt referred to by the petitioner is a nonexistent debt.
In its counter-affidavit deposed by a authorized practitioner, Mr. Mejulu Henry, averred that he’s conscious that the respondent for the reason that graduation of their enterprise relationship with the petitioner has all the time loved a credit score relationship due to the volumes/orders requested from the petitioner.

The deponent acknowledged that the respondent isn’t indebted to the petitioner within the sum of N63. 466 million including that between January 20 and 22, 2021, the respondent had made additional funds of the sum of N64 million, which is much in extra of the debt claimed by the petitioner.

The deponent acknowledged that the respondent isn’t bancrupt and is able to pay its money owed.
He acknowledged that the petitioner’s goal was primarily to paralyse the respondent’s companies and severely injure its status and company picture.

Justice Lewis Allagoa has mounted February 25, for listening to of the substantive go well with after counsel to each events, knowledgeable the court docket on January 18, 2022, that every one efforts to achieve an amicable settlement of the debt had damaged down. Supply: ThisDay

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