Who would have known that a company recently wasted its minimal resources on sponsoring an entertainment show is currently battling a war for its survival as a company, but that is the case of Payporte Global System Ltd., sponsors of the 2018 Big Brother Naija Show which has asked a Federal High Court sitting in Lagos to dismiss a bankruptcy suit that has been filed against it.
It was gathered that the suit was filed by Vacant Boards Ltd, a company Payporte is indebted to. In a notice of preliminary objection, Payporte contended that the court lacked jurisdiction to entertain the suit. It described the suit as defective, null, void and an abuse of court process. Payporte prayed the court to dismiss the bankrupcy suit with a substantial cost against the petitioner.
Vacant Boards Ltd had in 2015 filed a debt recovery suit against Payporte before the court. Thereafter, in a judgment delivered on May 27, 2016, the court awarded the sum of N23.1 million against Payporte in favour of Vacant Boards.
The petitioner, however, submitted that on Feb. 27, 2017, Payporte made a part payment of N5 million, leaving a balance of N17.1 million which it had yet to liquidate in spite of demand letters. It consequently filed a suit on Dec. 29, 2017, asking the court to order winding up of Payporte.
However, in the notice of preliminary objection on Wednesday, Payporte argued that the petition for winding up did not comply with the provisions of Sections 5 and 6 of the Companies Winding-Up Rules, 2001. Payporte’s lead counsel, Mr Ogedi Ogu, informed the court of the notice of preliminary objection.
He also said that he had been served with a counter-affidavit by the petitioner, and would need time to respond to it.
Justice Ayokunle Faji adjourned the case until June 12 for hearing.
Recall that early this year, some aggrieved staff of Payporte accused the company on social media of treating them poorly, owing them months of salaries yet spends millions on sponsoring competitions such as Big Brother Naija, and signing on brand ambassadors.