A limited liability company SWETS MARINE CONSULTANCY LIMITED has dragged a technical man power supply company EUROFLOW DESIGNS LIMITED before a LAGOS Federal high court for the purpose of winding it up over inability of the company to pay a debt of N29million.
The Petitioner SWETS marine consultancy company who is the petitioner in this petition alleged that the business relationship between the petitioner and Respondent commenced in December 2014 when the Respondent approached the Company for loan to enable the Respondent mobilize their vessel (the Singapore Inspector) for work at chevron field in Escravos in January 2015.
Every obligation concerning the crane and the vessel were met by which the Defendant cannot deny that the services rendered by the company enabled the vessel to mobilize in January 2016.
As a result of the petitioner ’s investment in the Defendant, the Defendant was able to embark on the contract agreement entered with chevron and which business relationship has blossomed from the date of the said contract till date.
The defendant is currently indebted to the applicant to the sum of N36, 000,000.
However the Defendant failed to make payment and thereafter the company made several demands vide letters and e -mails for the payment which demands the Defendant failed to meet, refused and or neglected to pay.
Between December 2014 and January 2019, the Defendant only paid a total sum of N7million in two installments of N5million and N2million
Several attempts had been made by the Petitioner and its lawyers to legally enforce the payment of the Debt owed to the Petitioner by the Respondent but to no avail
The petitioner then filed a winding up petition on the 1st of April, 2019 before this Honourable Court and have served same on the Respondent.
That sequel to the service of the petition on the Respondent, the petitioner was informed by reliable sources that the Respondent was taking steps to move its assets outside the jurisdiction of this Honourable Court so as to frustrate the Judgment of this court if same is in the favour of the petitioner.
Consequently this application is filed before this Court to prevent the respondent from taking this irresponsible action.
Therefore, it is a matter of utmost and urgent public interest, in aid of the administration of justice, to obtain an order restraining the Defendant from dissipating funds from its domestic bank accounts.
That unless this Honourable Court urgently entertains this application, the Respondents would move their funds from the banks and frustrates the Petitioner from removing their funds when this court ultimately issue an order to that effect. The case has been adjourned till 12th of November,2019 for hearing
