Tag: Winding-Up
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When a Pending Lawsuit Will Not Be Enough to Prevent the Winding Up of a Company: Key Lessons from Unifam Industries v. Ecobank (2019) 1 NWLR 187
Introduction The case of UNIFAM INDUSTRIES LIMITED V. ECOBANK NIGERIA LIMITED (SC.149/2005) was heard by the Supreme Court of Nigeria, with judgment delivered on Friday, 8 June 2018. The central issue revolved around whether a petition for the winding-up of a company due to its inability to pay its debts constituted an abuse of court…