RAJCO INTERNATIONAL LIMITED V. LE CAVALIER MOTELS AND RESTAURANTS LIMITED & ORS

SAMUEL CHUKWUDUMEBI OSEJI, J.C.A. : (Delivering the Leading Judgment) This appeal challenges the judgment of the Federal High Court, Lagos Division delivered on the 15th day of June ,2009 by Hon. Justice C.E. Archibong, wherein the plaintiff??s (now appellant??s) suit was dismissed on the ground that there was no share purchase agreement or a Board Resolution by the Directors of the 1st Defendant (now 1st Respondent) company for the allotment of shares to the Appellant upon payment of N1,500,000 as claimed.

The Appellant herein had by a writ of Summons and statement of claim both dated 19-8-2004 claimed against the three Appellants as defendants in the lower Court as follows:-

WHEREOF the Plaintiff claims from the Defendants jointly and/or severally as follows:

1. A declaration that it is entitled to be allotted, issued and/or transferred 1,500,000 ordinary shares of N1.00 each, making up 30% of the authorized share capital of the 1st Defendant Company.

2. An Order directing the Defendant…