PATS-ACHOLONU, JCA (Delivering the Lead Judgment): The
respondent company had, as the plaintiff, instituted an action against the defendants, now appellants, claiming a sum of N153,503,791.68 as a cumulative amount it suffered in the hands of the defendants for auctioning its property, which was the security for the loan facility the 1st defendant granted to the plaintiff after the plaintiff, as it claimed, had virtually settled the loans and had been given receipts to attest to that. After the pleadings had been exchanged, the plaintiff then filed a motion under Order 24 rule 4 of the High Court (Civil Procedure) Rules of Imo State, 1988, applicable to Abia State, for summary judgment on the ground that the statement of defence disclosed no reasonable defence to the claim. In opposition to the motion praying the court to enter judgment on behalf of the plaintiff, the defendants then filed a counter-affidavit which exhibited letters of authority given to the defendants for the sale of …