A Federal High Court in Lagos has fixed November 2 to hear United Bank For Africa (UBA)’s Petition to wind up Intergrated Energy Distribution and Marketing Company Ltd for alleged $47million debt owed the bank.
Justice Daniel Osiagor made the order after hearing Messrs Temilolu Adamolekun with Gbenga Akinde-Peters for UBA.
The bank filed its ex-parte application on September 21, 2021 in suit FHC/L/CP/1257/21 seeking to advertise the winding-up petition in a national and a state daily.
It backed the petition with an affidavit sworn to by its principal officer, Anike Isinguzo.
Granting the application, Justice Osiagor held: “It is hereby ordered that an order is granted for the Petition be advertised in the federal gazette, in one national daily newspaper and one other newspaper circulating within Lagos State where the registered office or principal place of business of the respondent company is situated.
“The matter is adjourned to the 2nd day of November, 2021 for hearing of the Petition.”
Book On Banking regulation In Africa: The Case Of Nigeria And Other Developing Economies
written by Dr Folashade Adeyemo, lecturer at the University of Reading, UK. This book contributes to the ongoing discourse and calls to improve the banking regulatory regime in Africa.