Court orders winding up of Anyiam Osigwe Group over alleged N750m debt

The Federal High Court in Lagos has ordered the winding up of Anyiam Osigwe Group Limited following its inability to pay its alleged debt of N750million owed a first generation bank since November 2006.

Justice Ayokunle Faji granted the order in its March 31, 2023 judgment in suit FHC/L/CP/925/14 between FBN as Petitioner and Anyiam Osigwe Group as Respondent.

Dr ‘Kemi Pinheiro SAN, represented the bank, while E. I. Maduabuchi was for the Respondent.

The bank’s prayer, as canvassed by Dr. Pinheiro, was that Anyiam Osigwe Group be wound up pursuant to the Company’s and Allied Matters Act

At the commencement of proceedings, the court analysed the facts of the case and the arguments in respect of same.

Justice Faji addressed the sole issue distilled for determination in the Petitioner’s final written address dated 16th of February, 2022.

The judge agreed with Pinheiro that the Respondent failed to furnish any satisfactory evidence to show that the unliquidated debt was still being disputed, as argued by the Respondent.

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Justice Faji discountenanced the Anyiam Osigwe Group’s contention that the debt was the subject of another suit marked LD/1798/09.

The judge noted that there was nothing in the said suit that could amount to a dispute about the debt, as the suit had been struck out and remained unlisted, Nation