KENTUS CHEMICALS AND ALLIED PROJECTS LTD V. UNITED BANK FOR AFRICA PLC

OMOLEYE JCA (Delivering the Lead Judgment): This is an appeal against the judgment of the High Court of Delta State, sitting in Asaba, delivered on 7 December 2004.

The brief background facts of this matter from the appellant’s perspective are that, sometime in March, 1997, the appellant applied for and was granted an Import Finance Facility (IFF), by the respondent for the purpose of importing secondhand motor spare parts from England. Under the arrangement, the appellant contributed thirty per centum (30%), while the respondent contributed seventy per centum (70%) for the importation of the goods. The appellant directed that the shipping documents should be delivered to it through the respondent. On the arrival of the goods, the appellant approached the respondent requesting for the shipping documents to enable it clear the goods. However, the respondent refused to surrender the shipping documents. The respondent insisted that the appellant must pay off the respondent’s seventy…