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NIGERIA INTERCONTINENTAL MERCHANT BANK LTD. V. UNION BANK OF NIG. LTD. & ORS.

(2004) JELR 36333 (SC)

Supreme Court  •  SC.246/2000  •  23 Apr 2004  •  Nigeria

Coram
UTHMAN MOHAMMED JSC; ALOYSIUS IYORGYER KATSINA-ALU JSC; AKINTOLA OLUFEMI EJIWUNMI JSC; DAHIRU MUSDAPHER JSC; IGNATIUS CHUKWUDI PATS-ACHOLONU JSC;

Judgement

PATS-ACHOLONU, J.S.C.:(Delivering the Leading Judgment): The appellant had instituted an action against the West African Marine Products Ltd. the 2nd respondent at the Lagos High Court for the recovery of a sum of N101,598,144.08 or realize the security which constituted of assorted frozen fish imported with an overdraft facility granted by the appellant's bank. The fish was stored in the cold room belonging to the defendant 2nd respondent. On the 31st July, 1998, the Lagos High Court granted leave to the appellant sequel to its ex parte application, to take possession of, remove and sell the entire stock of fish stored in the cold room of the 2nd respondent. It further made orders restraining the 2nd respondent, its agents and others from disturbing or preventing the appellant from taking possession and disposing of the entire stock and in any way from interfering or intermeddling with the appellant's possession or sale of the entire frozen fish ...

However on the 10th August, 1998 …

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