The Federal High Court in Lagos has appointed the court’s Deputy Chief Registrar (DCR 1) as the “provisional liquidator” over an alleged moribund company, Star Capitals and Asset Management Limited, pending the conclusion of the winding-up proceedings.
Justice Ibrahim Ahmad Kala made the order in the winding-up petition, numbered FHC/L/CP/1886/2021, following an application by Obafemi Oluwole, lawyer to the petitioner/applicant, Mr Okechukwu Chinedum Raymond.
The petitioner/applicant had approached the court by a motion on notice dated February 11, seeking an order appointing a provisional liquidator to take over and manage all assets and liabilities of Star Capitals and Asset Management Limited pending completion of the liquidation process.
He also sought an order directing all parties to cooperate with the provisional liquidator in all matters relating to the liquidation process, as well as any further orders the court might deem appropriate
Granting the prayer, Justice Kala stated that the court considered the petitioner’s motion on notice and affidavit in support of the application.
The court also noted that the respondent, Star Capitals and Asset Management, was not represented in court despite being served with the motion and hearing notice.
Consequently, the court granted the application and ordered the DCR 1 to serve as provisional liquidator.
The matter has been adjourned until October 13 for a report of compliance.