In 2015, Vacant Bill Board LTD filed a debt recovery suit against Payporte, the used to be official headline sponsor of BBNaija Reality TV Show before Bet9ja.
The court on May27, 2016 awarded the amount of N23.1 million against Payporte in favour of the petitioner.
Following up the case, the petitioner (Vacant Bill Board), said a part payment of N5million was made as against the initial N23.1million, the court ordered Payporte to pay. The payment was made on February27, 2017. Leaving a substantial amount of N18.1million in debt.
Several attempts made by the petitioner through letters to Payporte, did not yield any positive response, therefore led to the filed winding up petition against Payporte on December 29th, 2017.
In the same vain, the respondent(Payporte) in its notice of preliminary objection, decided to challenge the jurisdiction of the court to hear the petition. Mr.Ogadi Ogu, the respondent (Payporte) counsel argued that, the said petition for winding up failed to comply with the provisions of sections 5&6 of the companies winding up rules of 2001.
He argued further, saying: “no summons was filed by the petitioner, either sealed or issued in respect of the said petition,the failure rendered the petition null and void, he said.”
Although, the case was argued to be dismissed with substantial cost awarded against the petitioner.
This, wasn’t the case as the Federal High Court in Lagos, on Monday, fixed October 16th for further mention in the suit for winding up failed by the petitioner(Vacant Bill Board).
PayportE described the petition as, “defective, bad, null and void and abuse of court processes.”
The counsel to the parties were told that a further date for hearing would communicated to them by Justice Ayokunle Faji.
October 16th, is now the new date.