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ALLIANCE & GENERAL LIFE ASSURANCE PLC v. CORPORATE AFFAIRS COMMISSION

(2018) JELR 38388 (CA)

Court of Appeal  •  CA/L/70/2015  •  13 Jun 2018  •  Nigeria

Coram
MOHAMMED LAWAL GARBA JCA; JOSEPH SHAGBAOR IKYEGH JCA; JAMILU YAMMAMA TUKUR JCA;

Judgement

MOHAMMED LAWAL GARBA, J.C.A. (Delivering the Leading Judgment): By a petition dated the 14th March 2013, filed at the Federal High Court, (trial Court) the Respondent sought for the following reliefs against the Appellant: -

"1. That the Alliance and General Life Assurance Plc may be wound up under the provisions of the Companies and Allied Matters Act.

2. That the amount due from the Respondent in favour of the Petitioner, being the sum of N443,225,466.99 (four hundred and forty three million two hundred and twenty five thousand, four hundred and sixty six naira, ninety five kobo) plus 10% interest from 31st December 2011 until payment be paid from the proceeds of sale of the assets of the Respondent.

3. Further or other orders as the Court may deem fit to make in the circumstances."

The facts which gave rise to the petition are set out in paragraphs 5, 6 and 7 of the Petition as follows:-

"5. The company is indebted to your Petitioner in the


sum of being N443,225,466.95 (four hundred and …

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