These are not the best of times for HipTV and Smooth Productions belonging to Mr. Ayo Animashaun as Heritage Bank has taken over the companies.

We gathered that Heritage Bank obtained a court order to seize properties of the company, which organises the popular ‘The Headies Award’.

“Take notice that I, Mr Gani-Gidado Abubaker (Solicitor and Insolvency Practitioner) of 160A Sinari Daranijo Street, Victoria Island, Lagos has been appointed by Heritage Bank Limited as the Receiver/Manager of Smooth Promotions Limited over inter alia, its fixed and floating assets charged as security under the All Assets Debenture Deed dated December 11, 2014 and a Deed of Appointment of the Receiver/Manager dated February 11, 2019 was duly stamped by the Commissioner for Stamp duties filed at the Corporate Affairs Commission, Abuja which issued a letter dated February 26, 2019 that the Deed of Appointment has been filed with it.”

“Notice is hereby given that all the properties comprising but not limited to plants and machineries belonging to Smooth Promotions Limited and falling within the ambit of the receivership have been taken over and are now in firm possession of the Receiver/Manager.”

“All debtors of the company are to pay directly to the Receiver/Manager. Also, all creditors, if any, are to send their proof of claims to the Receiver/Manager within 14 days from date of this publication.”

“All deposits, cash and other Assets and company currently held by banks financial institution, should be held until issuance of further instructions by the Receiver/Manager in accordance with the pre-emptive Orders of Court in Suit No. FHC/L/CS/362/19 pending within the bosom of the Federal High Court, Ikoyi Division.”

“All holders of such deposits should contact the Receiver/Manager stating the balances and where secured facilities are granted, the type of security attached should be disclosed.”