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LequteMan
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Nigeria- The Bureau for Public Enterprises, BPE, was barred from transferring the controversial Kaduna Electricity Distribution Company, Kaduna Disco, to the preferred bidder, Northwest Power Limited, NPL, by a federal high court in Abuja on Tuesday. Premium Times reports:
The court order was on the request of the reserved bidder, Leda Consortium Limited, following the refusal of the BPE to invite it to complete the Share Purchase Agreement of the Kaduna DISCO after the failure of NPL to pay the remaining 75 per cent of its bid price after several extensions of the deadline.
According to a copy of the court order the court ruled both parties should “maintain status quo with regard to the subject matter of the suit pending the determination of the defendant notice of preliminary objection.”
Leda had approached the court after what it termed BPE’s “brazen violation of set contractual obligation” and said BPE seemed set to perpetually extend the deadline for Northwest to complete the payment of the bid price.
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#BPE #Nigeria
The court order was on the request of the reserved bidder, Leda Consortium Limited, following the refusal of the BPE to invite it to complete the Share Purchase Agreement of the Kaduna DISCO after the failure of NPL to pay the remaining 75 per cent of its bid price after several extensions of the deadline.
According to a copy of the court order the court ruled both parties should “maintain status quo with regard to the subject matter of the suit pending the determination of the defendant notice of preliminary objection.”
Leda had approached the court after what it termed BPE’s “brazen violation of set contractual obligation” and said BPE seemed set to perpetually extend the deadline for Northwest to complete the payment of the bid price.
click here to read more
#BPE #Nigeria
