PROVISIONAL LIQUIDATOR OF TAPP INDUSTRIES LIMITED & ANOR. V. TAPP INDUSTRIES LIMITED & ORS

OGUNDARE, J.S.C. (Delivering the Leading Judgment): The narrow question that calls for determination in this appeal is whether a provisional liquidator appointed by the court for a company can apply ex parte to the court for extension of time to complete his assignment and for an order to take custody of the company's property for safe keeping.

Francis Umeadi Onyekwelu a shareholder in Tapp Industry Limited had filed a petition in the Federal High Court holden at Enugu (Ofili, J.) for the compulsory winding-up of the company. The 2nd - 6th respondents who are the other shareholders, in the company, are joined in the petition as respondents. The company itself is the 1st respondent. The 7th and 8th respondents, were on their application joined as respondents in the proceedings by order of the trial court. With the consent of all the parties, the court, by order, appointed Mr. Chike Ofodile, S.A.N. as provisional liquidator to the company. Because of the importance of the order to the d…