GUARANTY TRUST BANK PLC V. TOYED NIGERIA LIMITED & ANOR

UZO I. NDUKWE-ANYANWU, J.C.A. (Delivering the Leading Judgment): This is an appeal against the decision of the High Court of Lagos State delivered on the 3rd of June, 2013 by Hon. Justice O. O. Oke.

By a further amended Writ of Summons together with a Statement of Claim, the Claimant now Appellant claimed against the 1st and 2nd Defendants now 1st and 2nd Respondents as follows:

"1.2.1. From the 1st and 2nd Defendants jointly and severally the sum of ₦5,044,636.03 (Five Million and Forty Four Thousand, Six Hundred and Thirty Six Naira, and Three Kobo) being the principal and accrued interest as at 28/2/07 and compound interest on the said sum at the rate of 29% per annum from 28/2/07, until judgment is delivered and the final liquidation of the judgment debt.

1.2.2. Against the 2nd Defendant only, a declaration that the claimant upon 1st Defendant's default of the repayment of the loan facility and accrued interest is entitled to sell the property situate at Plot 3, Adisa Ogunwemimo Stre…