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ADVANCED COATING TECHNOLOGY NIGERIA LTD & ORS. V. FIRST BANK OF NIGERIA PLC.

(2008) JELR 54390 (CA)

Court of Appeal  •  CA/L/162M/06  •  3 Jul 2008  •  Nigeria

Coram
PAUL ADAMU GALINJE JCA (Presided) HUSSEIN MUKHTAR JCA (Read the Lead Ruling) ADAMU JAURO JCA

Appearances
J. C. EzikeS. E. Onyeleonu For Appellant 1. Dr. K. U.K. Ekwueme2. Anu Ladega, Miss For Respondent

Judgement
<p><strong> HUSSEIN MUKHTAR, J.C.A: (Delivering the Lead Ruling):</strong> The six appellants/applicants (hereinafter referred to as &quot;the applicants&quot;) have by two separate applications filed on the 14th June 2006 and 24th November 2006 sought for stay of execution of the ruling of the High Court of Lagos State (Coram Honourable Justice O. O. Oke) delivered on the 24th November 2005 and for stay of further proceedings in suit No. ID/594/2004 pending determination of the appeal against the said ruling respectively.</p><p>The court below in its interlocutory decision delivered on the 24th November 2005, which is the subject of the appeal and this present application for stay of execution and stay of proceedings, made the following orders:</p><p>1. &quot;An order of interlocutory injunction restraining the 1st and 3rd defendants either by themselves, or their directors, servants, agents, employees and privies from withdrawing, tampering with, transferring or howsoever dealing with the funds representing proceeds of Oil and Gas…</p>

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