Huawei Files Petition Against Warid for USD 100 Mln Liabilities, Gets Stay Orders

“Huawei International Pte Limited and Huawei Technologies Pakistan Pvt Limited on 23 August 2010 instituted three petitions in the Lahore High Court, Rawalpindi Bench, for the winding up of Warid Telecom (Pvt.) Ltd. The petitions have been filed only after repeated assurances by Warid that the outstanding and admitted liabilities would be repaid”, said a statement issued by Huawei Pakistan Middle East.

Press statement, signed by Fatima Beckmann of Huawei Middle East, said as interim measures company sought stay orders against Warid from disposing off its assets and the transfer of shares. It claimed that the court has granted stay orders. Statement said that court has also directed Warid to submit its monthly statement of income and expenses. Huawei claims that it is seeking from the court the appointment of a provisional manager while the petitions are pending.

Huwaei has pleaded that Warid owes the three Huawei companies a sum far exceeding US $ 100,000,000 (US Dollars One Hundred Million) equivalent to a sum exceeding Pak Rupees 10,000,000,000.00(Pak Rupees Ten Billion).

The Petitions will be heard by the Court in Pakistan on the 26th October 2010.

Huawei said that following the institution of these petitions and the grant of the stay orders by the High Court, Warid and Huawei have attempted to settle the issue, as mentioned by a rejoinder published by Warid Telecom.

However, no meaningful offer was made by Warid, and no payment has been received by Huawei, said Huawei, and this is why company is vigorously pursuing the petitions.

Earlier, Huawei had got this public notice published in various newspapers:

huawei warid petition

Tech reporter with over 10 years of experience, founder of ProPakistani.PK