• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, July 12, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Zenon Petroleum Debunks Publishing Winding Up Suit Against Prudent Energy

by Agency Report
3 years ago
in Business, News
Zenon
Share on WhatsAppShare on FacebookShare on XTelegram

Zenon Petroleum and Gas Limited yesterday said it never published the particulars of its suit against Prudent Energy & Services Limited (PESL) in adherence with the rules of the court.

 

Advertisement

In a statement, it said that like all others in the public, it read the story of the petition it filed at the Federal High Court Lagos in Suit No. FHC/L/CP/1450/2022 to wind-up Prudent Energy and Services Limited and the subsequent press release by Prudent Energy yesterday.

 

Earlier, the management of Prudent Energy had debunked the news in the media over the wind up proceedings initiated against it by Zenon over its inability to pay $6 million debt owed the oil company.

 

RELATED

Cult Activities And Related Matters

2 hours ago
Garba Shehu

Buhari: Bare-Faced Lie At Shehu’s Book Launch

2 hours ago

The company had added that the subject of Zenon’s winding-up petition and its entitlement to any sum from PESL was being contested through a High Court suit commenced by the company to prevent Zenon from enforcing the corporate guarantee until the arbitral award had been delivered.

 

It noted that the advertisement, in the form of media publications, of the winding-up petition commenced by Zenon against PESL, when no court had authorised the advertisement of such petition, was illegal and prejudicial.
But Zenon stated that the petition is a matter before the Federal High Court and is not to be publicised by the rules of court by either Zenon or Prudent Energy, saying it will

 

not engage Prudent Energy in any exchange on the pages of the newspapers.
“It is left to the High Court or the arbitral tribunal to determine whether the deferred payment was to meet contingent payment or otherwise as asserted by Prudent Energy.
“Zenon did not advertise the winding up petition or publish the petition. As a matter of fact, Zenon’s application to advertise the winding – up petition is yet to be heard by the Federal High Court,” it stated.
Zenon added that Prudent Energy had admitted owing the firm and had in fact paid the first instalment of the debt during the arbitration Prudent Energy referred to in its public notice.
“The High Court action referred to paragraph vi of the public notice is being vigorously contested by Zenon; and the subject matter of the winding-up petition is not before any arbitration panel but before the Federal High Court which is the court constitutionally empowered to wind up companies unable to pay their debts,” it said.
Accordingly, Zenon advised all stakeholders and the general public to disregard the press release issued by Prudent Energy on the matter.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel



SendShareTweetShare
Previous Post

‘Nigeria Requires 30,000MW Electricity Generation To Meet Current Demand’

Next Post

AEDC Tops, As Electricity Customer Metering Rises To 10.51m In 2021

Agency Report

Agency Report

You May Like

News

Cult Activities And Related Matters

2025/07/12
Garba Shehu
Backpage

Buhari: Bare-Faced Lie At Shehu’s Book Launch

2025/07/12
Senate Unveils 37-member Constitution Review Committee
News

Senate Observes One-Minute Silence For 2-year-old Allegedly Killed By NDLEA Operatives

2025/07/12
Edo IDPs Seek Help As Food Scarcity Bites
News

Container Schools Offer Lifeline To IDP Children

2025/07/12
Surpass N18.3trn Revenue Target For 2024, Senate Tells Revenue Generating Agencies
News

Lawyers, Politicians Rally Behind Women’s Reserved Seat Bill

2025/07/12
Adamawa Marks 5th Anniversary With Special Church Service
News

Gov Fintiri Imposes Curfew On Lamurde LG

2025/07/12
Leadership Conference advertisement

LATEST

ADC Presidential Ticket: Atiku, Obi, Amaechi, Others To Sign Agreement

Trump Surveys Texas Flood Damage With 120 Dead, 160 Missing

Visa Cut Not Linked To Reforms, Diplomatic Tensions, Says US Embassy

Cult Activities And Related Matters

Buhari: Bare-Faced Lie At Shehu’s Book Launch

Senate Observes One-Minute Silence For 2-year-old Allegedly Killed By NDLEA Operatives

Container Schools Offer Lifeline To IDP Children

Lawyers, Politicians Rally Behind Women’s Reserved Seat Bill

Gov Fintiri Imposes Curfew On Lamurde LG

Buhari Vows To Be Neutral As Ex-Aides Battle Tinubu

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.