Huawei Statement regarding its Warid Telecom Winding Up Petition Cas

Huawei re-affirms its unwavering committed to pursuing its case against Warid Telecom through the Pakistan High Court, contrary to unsubstantiated claims reflected in recent media reports,

“As Huawei has exhausted all efforts to assist Warid in attaining an amicable resolution in the matter, the company was left with no other recourse as Warid remains unable to settle the monies it owes to Huawei. The likelihood of an amicable resolution now is dependent on Warid. Should a solution not be confirmed, Warid places the continuity of its network in jeopardy, leaving Huawei with no other choice but suspension of services related to the debt.”

The petitions will be heard by the High Court at Rawalpindi on October 26, 2010. Under the orders of the High Court notices of the winding up petitions have already been published in newspapers so that all contributories and creditors who wish to support the petition may come forward and make their claims before the High Court.

Following the High Court’s granting of the stay orders, Warid requested a dialogue with Huawei to explore a resolution through settlement of the issue. No agreement has yet been reached and Warid has also not made any payment towards its debt to Huawei.

Huawei is seeking the appointment of a provisional manager while the petitions are pending. The court appointed provisional manager would be tasked with managing the full custody and control of all relevant documentation, property, effects and actionable claims of Warid for the purpose of compiling the contributories list and creditors of the company along with the day to day management of Warid’s business during the pendency of the winding up proceedings.

In addition, Warid owes Huawei in excess of US$ 1,000,000.00 (US Dollars One Million only) for support services. It has also defaulted on these payments and the monthly bills for August, September, 2010 have not been paid. Huawei will have no choice shortly but to discontinue providing these services, which will have a likely effect on Warid’s customer services.

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