Alleged debt: Court adjourns Unitech’s suit against Waltersmith

The Federal High Court in Lagos has adjourned a suit filed by
Unitech Drilling Company Limited to recover an alleged debt from
Waltersmith Petroman Oil Limited.

The case, which is before Justice Oluremi Oguntoyinbo, was
adjourned till a date to be communicated to the parties.

Unitech Drilling Company Limited is, in the suit, seeking a
court order to wind up Waltersmith Petroman Oil Limited over
alleged indebtedness.

The plaintiff, which is into oil and gas servicing, claimed that
the respondent between 2015 and 2016 engaged its services for the
provision of directional drilling and measurement.

It claimed to have drilled four oil wells at Izombe field in Imo
State for Waltersmith Petroman Oil Limited.

Unitech Drilling Company Limited alleged that despite steady
sale of crude oil produced from the oil wells, Waltersmith Petroman
Oil Limited had only paid a paltry sum to it out of the agreed
contract sum.

But Waltersmith Petroman Oil Limited had opposed Unitech
Drilling Company Limited, asking the court to dismiss it.

In a further counter-affidavit deposed to by one Kemi Banjo,
Waltersmith Petroman Oil Limited said the winding up suit against
it lacked merit as “it did not admit its inability to pay its
outstanding balance of $1,000,188.01,” to Unitech Drilling Company
Limited.

The defendant said already, it had paid a total of $2,658,137.70
to the plaintiff.

“The respondent is not insolvent and I verily believe that it is
in the interest of justice that the petitioner’s suit be
dismissed,” Banjo said in the further counter-affidavit.

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