IBRO HOTELS LIMITED V. HOTEL SUPPORT SERVICES LIMITED

ODUYEMI, JCA.: (Delivering the Lead Judgment) By his Statement of Claim filed in the High Court of The Federal Capital Territory, Abuja, the Plaintiff claimed from the Defendant the sum of ₦2,898,660:00K (Two Million, eight Hundred and Ninety-Eight Thousand, Six hundred and Sixty Naira), being the balance of special and general damages for breach of a Management Agreement between the Parties, dated 15th April, 1992 as follows:-

(i) Loss of Profit ... ₦323,660:00

Three months Basic Pay in lieu of Notice ... ₦75,000:00

Loss of Goodwill ... ₦2,500,000:00

₦2,898,660: 00

(b) interest on the said sum of ₦2,898,660:00 at the rate of 35% per annum with effect from 3rd April, 1993 until final payment or as may be ordered by the said Court. For its part, the Defendant made a Counter-claim for mismanagement of the Hotel, the subject of the Management Agreement, in the sum of ₦745,242.32 and an account for 333 folios and 58 sheets of receipt alleged missing from the books of the Hotel while the Man…