Court fixes date to hear suit for winding up of CNN Africa

The Federal High Court in Lagos, on Thursday, fixed September 27, 2021for hearing in the winding up and forfeiture proceedings concerning CNN Africa and linked to Stephanie Busari, Nima Elbagir, Muhammad Darwish.

The presiding judge, Hon. T. G Ringim, adjourned the case to hear an application filed by KeneChukwu Okeke for the final forfeiture of the assets belonging to CNN Africa in Nigeria.

In the originating summons marked FHC/L/CS/1839/2020, KeneChukwu Okeke, Claimant/Applicant averred that CNN Africa and Stephanie Busari egregiously breached the clear and unambiguous requirements of Sections 78, 79, 80 of the Companies and Allied Matters Act, 2020 and Section 2 (2) & 9 (1) of the National Broadcasting Commission Act, 1992 (as amended) having established a “multi-platform office bureau” for the production and transmission of sound or vision including featured contents through cable and satellite broadcasts in Nigeria.

“Unregistered companies,” according to the litigant, “are subject to winding up procedures, whether solvent or insolvent, as are registered companies and organisations. For unregistered companies, the courts may declare that it is fair and equitable for the company to be wound up.”

As a result of the redeployment of Hon. Justice (Prof.) Chuka Obiozor, the matter was re-assigned to the new judge, Hon. Justice T. G. Ringim for hearing.