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CHIEMEKA TAPAULINE IND. NIG. LTD. v. UNION BANK OF NIGERIA PLC.

(2011) JELR 49171 (CA)

Court of Appeal  •  CA/PH/68/2005  •  25 May 2011  •  Nigeria

Coram
ABUBAKAR JEGA ABDUL-KADIR JCA; HELEN MORONKEJI OGUNWUMIJU JCA; MOJEED ADEKUNLE OWOADE JCA;

Judgement

HELEN MORONKEJI OGUNWUMIJU, J.C.A.(Delivering the Leading Judgment): This is an appeal against the decision of Hon. Justice J. T. Isoho sitting at the Federal High Court Umuahia on the 19th day of October, 2004.

The facts that led to this appeal are as follows:

The Plaintiff commenced an action on 31/5/01 claiming against the Defendant the following reliefs:

(i) A declaration that the Plaintiff is the duly appointed Receiver by virtue of a Deed of Appointment dated 27/4/2001 made by the Union Bank of Nigeria Plc, pursuant to clauses 7 and 3(v) of the Deed of Legal Mortgagee/3rd party Legal Mortgagee respectively and clause 6 of the Deed of Floating Debenture by which the Defendant charged in favour of the said Union Bank of Nigeria Plc ALL its properties undertaking and its and other assets including book debts and uncalled capital fixed plants and machinery and all its stock in trade or otherwise under its control both present and future as a floating security and the properties desc…

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