A business firm, Seapro Energy Limited, dealing in petroleum products has filed a winding-up petition/suit on grounds of insolvency against Primero Transport Services Limited.
Primero is the operator of BRT buses in Lagos State.
The petition/suit is filed at a Federal High Court sitting in Lagos before Justice Chukwujekwu Aneke.
In the petition by Seapro Energy Limited (petitioner) through its lawyer Tochukwu Onyiuke, is praying the court to declare Primero Transport Services Limited, insolvent and wind it up on grounds that the respondent’s liabilities owed to the petitioner and other creditors were in excess of the assets.
The petitioner argued that the respondent’s debt to it for the petroleum product supplied is N166.4 million which is above and over the respondent’s nominal capital of N100 million paid up or credited as paid up.According to Seapro Energy, the particulars of the matter is that between January 21, 2020, and February 27, 2020, it effected supply of Automotive Gas Oil (AGO) popularly called diesel to Primero Transport Services Limited at its New BRT depot, Majidun-Awori, Ikorodu Lagos. (Vanguard)