Compulaw - 1st Indigenous Digital Law Library

Brief

Time (When of essence)

Facts

In the suit filed at the Benin Division of the Federal High Court on the 11/11/93 the plaintiff who is appellant herein claimed against the defendant who is respondent herein in the following reliefs:

1.
"An injunction restraining the Defendant from initiating winding up proceedings against the plaintiff as threatening in its notice (Ref. NNB/LDC/ MMW7616 DATED 27TH October on the ground inter alia, that
2.
An order that the defendant is liable to the plaintiff in the sum of N76.74 million for loss suffered by the plaintiff a result of mismanagement, miscarriage and failure by the defendant to honour agreement between it and the plaintiff and solemn undertaking by the defendant.
3.
An order that the Defendant pay over to the plaintiff in the sum of N76.74 million with interest at the rate of 30% per annum from the date of filing this writ and thereafter at the rate of 6% per annum until payment.

Pleadings were filed and exchanged. At the end of the trial, the learned trial Judge, Lawson J. on the 20/10/94 gave judgment in which he restrained the respondent from initiating winding up proceedings against the appellant and dismissed the claims for the sum of N76.74million with interests.

Dissatisfied with the said judgment, the plaintiff has now appealed to the Court of Appeal.

Gamila (Nig.) Ltd V. New Nig. Bank (1999) CLR 11(x) (CA)

Brief

Facts

Issues