By NEIL HARTNELL
Tribune Business Editor
nhartnell@tribunemedia.net
The Punch tabloid newspaper is facing a winding-up petition over an alleged $16,581 debt it owes to the sisters of its owner/publisher, court documents have revealed.
Felicity Johnson and Janet Johnson, the latter acting as the executrix of their late father, Basil Johnson’s, estate, will see their winding-up petition for Punch Publications Ltd heard on February 18, 2013, before Justice Rhonda Bain.
Punch Publications is owned by their brother, Ivan Johnson, who acts as its publisher and president.
Although Mr Johnson could not be contacted for comment yesterday, it appears likely that he will contest the petition when it comes up for hearing. Alternatively, he could also pay it off, given that it is a relatively small amount.
The winding-up petition, which was filed with the Supreme Court on February 16, 2011, appears to be related to a Johnson family dispute over their late father’s estate, details of which were disclosed in The Tribune some years ago.
The sum involved relates to a Certificate of Taxation of Costs, filed on November 15, 2010. Given the two years that have elapsed since the winding-up petition was filed, and the upcoming February 18 hearing, it is likely that negotiations to resolve the matter have taken place, but without success.
As a result, the Johnson sisters appear to be pressing ahead with the winding-up petition.
Referring to Punch Publications, the petition alleges: “The company is indebted to your petitioners in the sum of $16,581, which amount is due and payable pursuant to the Certificate of Taxation of Costs filed in Supreme Court action CLE/GEN/00340 on the 15th day of November 2010.”
The Johnson sisters alleged that a demand, requiring their brother and Punch Publications to pay the sum within 21 days, was served on the company on December 3, 2010.
The petition noted that this deadline had passed, and that the company “has neglected to satisfy the said sum or any part thereof, or to make any offer to your petitioners to secure or compound the same.
“The company is insolvent and unable to pay its debts. In the circumstances, it is just and equitable that the company be wound up.”
The Johnson sisters, one of whom is the Bahamas Telecommunications Company’s (BTC) senior vice-president of legal and regulatory affairs, and the other a senior Ministry of Tourism official, are being represented by Cedric Parker & Company.
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