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StarTimes: We’ve not received a winding-up court order

StarTimes: We’ve not received a winding-up court order
March 01
20:14 2021

StarTimes, a Chinese electronics and media company, says it has not received a winding-up court order.

GlobalData had reported that the company is at risk of getting a winding-up court order for  failing to pay beIN Media Group for  broadcasting rights to Ligue 1, the French football league.

The debt is reported to be $11 million, including interest.

A winding up order, also known as a liquidation order, is a legal process by which a company’s assets are sold in order to pay its debts.

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In a statement on Monday, Lazarus Ibeabuchi, public relations manager of StarTimes Nigeria, confirmed that the company has an ongoing court case with beIN Media Group.

“Though in Hong Kong, a legal proceeding is on-going to resolve the differences between both aggrieved parties; it’s an ongoing court proceeding and not a court order,” the statement read.

“A court in Hong Kong has no jurisdiction over Nigeria. Whatever decision reached is binding on both parties in that country only, and would have no consequences on StarTimes’ operations in Nigeria.”

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He added that StarTimes has been in constant communication with beIN, assuring that the two parties will resolve the issue in an amicable manner. 

In 2018, StarTimes signed a deal with beIN Media Group which holds international Ligue 1 rights from 2018-19 to 2023-24 to broadcast English and local language Ligue 1 in sub-Saharan Africa.

A monthly payment plan was agreed upon between both parties after the matter was taken to court in Hong Kong before the start of the 2019-20 season, but StarTimes missed the first instalment.

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