Huawei recently filed a petition case for the winding up of Warid Telecom but now the case has entered into a new phase, as the reports are that both the parties are looking forward to a friendly settlement of the matter.
Previously, Huawei denied the reports of settlement between both the companies, but today Huawei said that the negotiations are in progress.
According to Huawei, there are still some important steps that need to be resolved and completed by Warid Telecom and if everything accelerates in a normal way, we hope the matter will likely to be resolved in properly.
However, for the meantime the hearing is adjourned by the Lahore high Court Rawalpindi Bench to December 2, 2010.
The main reason behind filing a petition case for the winding up of Warid Telecom is the claim made by Huawei that Warid owed the amount of US $100,000,000 and is defaulted on monthly payments for August and September 2010.
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Finally, they resolved this issue. It’s always to better to negotiate rather to get into the legalities.
Its modern era. No company wants to get into legal hassles. They negotiate and resolve their issues.