FENTON KEYNES FINANCE LTD & ANOR V. TRANSPLY NIGERIA LIMITED

HUSSEIN MUKHTAR, J.C.A (Delivering the Leading Judgment): This is an appeal against the judgment of the High Court of Lagos State (the court below) delivered by I. O. Kusali, J on the 5th of October, 2005.

The suit in the court below was instituted by the respondent (plaintiff) against the appellants (defendants) in 1996 claiming jointly and severally or in the alternative the sum of N8,505,574.00 being the aggregate sums and interest due to the plaintiff/respondent as at 30th September, 1996 under Fund Management Contract Notes issued by the defendants/appellants to the plaintiff/respondent from 28th May, 1993 with interest at the rate of 21% per annum until final amortization of the loan subject to any variation thereon by any fiscal legislation.

The court below delivered judgment In favour of the plaintiff/respondent granting all the reliefs sought for. The defendants/appellants were aggrieved by the said judgment and thus appealed against it. The Notice of Appeal was dated 3rd Dec…