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BUREAU OF PUBLIC ENTERPRISES v. REINSURANCE ACQUISITION GROUP LTD & ORS.

(2008) JELR 33835 (CA)

Court of Appeal  •  CA/A/195/M/05  •  27 Feb 2008  •  Nigeria

Coram
RABIU DANLAMI MUHAMMAD JCA; MARY U. PETER-ODILI JCA; ABDU ABOKI JCA;

Judgement

MARY U. PETER-ODILI, J.C.A. (Delivering the Leading Judgment): This is an appeal against the Ruling of the Honourable Justice Adah of the Federal High Court, Abuja delivered on the 30th day of June 2005.

By an Originating Summons dated the 6th day of May, 2004 the Defendants/Respondents sought the following reliefs:-

(a) A declaration that as between the 1st Plaintiff and the 1st Defendant, there is a binding and subsisting agreement dated 11th January, 2003 vesting and transferring 1,297,100 ordinary shares of N200 each in the capital of the 2nd Plaintiff to the 1st Plaintiff.

(b) A declaration that by virtue of the said agreement dated 11th January, 2003, particularly paragraph 2.3 thereof all rights of legal cession to all insurable business in Nigeria hitherto enjoyed by the 2nd plaintiff have been vested in the 1st Plaintiff.

(e) A declaration that the rights vested in the 1st Plaintiff and accruing to its benefit under the said agreement cannot be acquired, tampered with, subsu…

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