In a bid to recover a debt ofN1,380,000,000 Motorcycle dealer company EVAME MULTI-NATIONAL COMPANY, has filed a winding up petition against a bureau de change operator GRAVITY BUREAU DE CHANGE LIMITED COMPANY
In an affidavit in support of the petition sworn to buy the Manager of EVAME MULTI-NATIONAL COMPANY Godwin Joshua and filed before the court by a Lagos Attorney Fayemi Bolarinwa Joshua, the deponent alleged thus-
On May 6, 2021, the Petitioner EVAME MULTI-NATIONAL COMPANY entered into an agreement with the Respondent to exchange the sum of N1,660,000,000.00, which was paid to the Respondent’s Bank account of which only N280,000,000.00 (Two Hundred and Eighty Million Naira) has been repaid.
The Respondent is indebted to the Petitioner in the sum of N1,380,000,000.00 (One Billion, Three Hundred and Eighty Million Naira), which remains outstanding.
The sum of N1,660,000,000.00 was guaranteed by the personal guarantees of ABDULSALAM SALEH ABDULKARIM, the current person with significant control of the Company, and DAUDA BUHARI ADAMU, the first Director of the company
The Petitioner has made application to the Respondent on 15th October 2024, through its solicitors in a letter informing them of the outstanding debt and expressing dissatisfaction with the Respondent’s failure to repay the amount.
Despite the above communication, the Respondent continued to fail in settling the balance, prompting the Petitioner to send additional letters demanding for immediate repayment.
At no time has the Respondent denied its indebtedness to the
Petitioner,but the Respondent has failed and neglected to liquidate the indebted sums.
In the interest of justice the petitioner urge the court to wind up the respondent and the proceeds thereof be used to liquidate the indebted sum of the Respondent with interest.
