December 17, 2018 has been fixed for hearing a winding-up petition filed by Vacant Board Limited against sponsors of Big Brother Naija reality TV show, Payporte Global Systems Limited.
Justice Ayokunle Faji of the Federal High Court in Lagos granted the application for the regularisation and fixed the date for hearing.
The petitioner had filed a debt recovery suit against Payporte before a Lagos High Court in 2015.
In its judgment delivered on May 27, 2016, the court awarded N23.1 million against Payporte.
Payporte made a part-payment of N5 million last year, leaving a balance of N17.1 million, which it failed to liquidate till date, despite several demand letters.
But Vacant Board Limited filed a winding-up petition before the Federal High Court on December 29, last year, asking it to wind up the company.
However, the counsel to the respondent, Mr Ogedi Ogu, averred that the petition for winding-up failed to comply with the provisions of sections 5 and 6 of the Companies Winding-Up Rules, 2001.
Payporte contends that the court lacks jurisdiction to entertain the petitioner’s suit.