judy.legal
Login Register

MR. JOSEPH PENAWOU v. ZENITH BANK PLC & ORS

(2017) JELR 37809 (CA)

Court of Appeal  •  CA/L/970/2012  •  12 May 2017  •  Nigeria

Coram
MOHAMMED LAWAL GARBA JCA; YARGATA BYENCHIT NIMPAR JCA; JAMILU YAMMAMA TUKUR JCA;

Judgement

MOHAMMED LAWAL GARBA, J.C.A.(Delivering the Leading Judgment): By a writ of summons and statement of claim both filed on the 21st of May, 2012 in the Registry of the High Court of Lagos State in Suit No.LD/768/2112, the 1st Respondent sued the Appellant, as chairman and the 2nd and 3rd Respondents, as directors of Nigdel United Oil Company Limited, and made claims against them as follows: -

(a) The sum of USD15,900.089.99 (Fifteen Million, Nine Hundred and Eighty Nine USD, Ninety Nine Cents) being the outstanding amount as at 20th September, 2011 in respect of the Credit facility granted to the Defendants' Company - Nigdel United Oil Company Limited by the Claimant and guaranteed by the Defendants,

(b) Interest on the above stated amount at the rate of 21% per annum from 20th September, 2011 until Judgment and thereafter at the rate of 21% per annum until the final liquidation of the judgment debt by the Defendants jointly and severally.

(c) General damages against the Defendants jointly…

There's more. Sign in to continue reading

judy.legal is the comprehensive database of case law and legislation from Ghana, Kenya and Nigeria. Gain seamless access to over 20,000 cases, recent judgments, statutes, and rules of court.


Get started   Login