Justice Chukwujekwu Aneke of the Federal High Court in Lagos has issued an order to Uniterm Nigeria Limited to advertise its petition seeking to wind up Oriental Energy Resources Limited, an oil exploration, and production company in Nigeria, over an alleged debt.

Under Rule 19 of the Companies Winding Up Rule 2021 and the court’s inherent jurisdiction, Justice Aneke directed Uniterm Nigeria Limited to publish the petition in the Federal Gazette and two other newspapers within 14 days from the date of the order.

The petition filed by Uniterm Nigeria Limited (designated FHC/L/CP/1256/2022) claims that Oriental Energy Resources Limited failed to pay the debt owed to the petitioner. The petition is based on the non-payment of debts due to Uniterm Nigeria Limited for credit facilities granted to Oriental Energy Resources Limited, among other claims.

According to a Litigation Executive, Chika Ohanekwu, who deposed to an affidavit in support of the motion for advertisement, the court’s permission is required to advertise a petition for the winding up of a company before the petition can be heard.

Uniterm Nigeria Limited’s counsel, Uchechukwu Obi (SAN), argued in their written address that the petitioner has fulfilled all the conditions precedent for the grant of the application for an order to advertise the winding-up petition. They maintained that the petition was filed properly, served on Oriental Energy Resources Limited in accordance with the Federal High Court (Civil Procedure) rules, 2019, and the Companies Winding-Up Rules.