13 December 2017, Sweetcrude, Port Harcourt — A Federal High Court sitting in Port Harcourt has adjourned till 29th January 2018 to continue case of alleged indebtedness filed by Eunisell Limited against Geo Fluids Oilfield Services Nigeria.
SweetCrude Reports gathered that Eunisell Limited had dragged Geo Fluids to court over the latter’s inability to pay the sum of $200,000 to the company for chemicals supplied.
Eunisell claims that it supplied some chemicals worth $200,000 to Geofluids five years ago but has not received any payment yet and is requesting that Geofluids be wound up over its inability to service its debt.
In court, counsel to Eunisell, Mr. Simon Amadus, asked the judge to adjourn the case to enable him raise an affidavit to prove that Geo Fluids paid a meager amount to his client as part payment of the debt.
Amadus told the Court that Geo Fluids had raised a cheque of N5 million in favour of his client but that the payment when converted to United States dollar failed to cover the outstanding debt for the chemicalss supplied.
He disclosed that the cheque was returned to Geo Fluids in court before the sitting (yesterday) after many other attempts, stating that the adjournment was to enable him to place it on record that the cheque had been returned.
Speaking after the court sitting, Amadus said, “The chemicals our client supplied to them was used but payment was not made. Under the Companies’ and Allied Matters Act, where a company is unable to settle her debt it means that company is as good as dead.
“It is in the interest of the public to wind-up that company to put it to an end so that people will not be deceived to do business with them. We are here to wind-up that company, moving a motion to advertise, to let the public know that the process of winding-up that company is to take place.”
Also speaking, Counsel for the defendant, Salomy Johnson, regretted that Eunisell wants to wind-up the firm, instead of giving them adequate time to prove that the debt would be paid.
“We have the capacity to service our debt if they can prove it. The company is functional and viable.
“If they wind-up the company many people will become unemployed and the name of the company would be affected,” she said.
But having listened to submissions of counsels for both parties, the trial judge, Justice Bilkisu Aliyu, adjourned to January 29th 2018 to enable the counsel for the applicant raise his affidavit.