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SKYE BANK (NIGERIA) PLC v. SEPH INVESTMENT LIMITED & ORS

(2016) JELR 36969 (CA)

Court of Appeal  •  CA/I/214/2007  •  14 Apr 2016  •  Nigeria

Coram
MOJEED ADEKUNLE OWOADE JCA; MOHAMMED AMBI-USI DANJUMA JCA; JAMES SHEHU ABIRIYI JCA;

Judgement

MOJEED ADEKUNLE OWOADE, J.C.A. (Delivering the Leading Judgment): This is an appeal against the decision/Ruling of G. E. Oladoke J. in the High Court of Osun State, sitting at Ile-Ife delivered on 13/2/2007.

The Appellant as Plaintiff took out a Writ of Summons in the High Court of Justice Ogun State, Ijebu Ode Judicial Division against the Respondents and secured judgment in the said Court on 3/3/2004 per Hon. Justice T. Ibikunle in the following terms.

"Accordingly Plaintiff succeeds against the Defendant on all its claims.

Judgment is entered in favour of the Plaintiff for the sum of N16,304,217.72 with interest as claimed and it is also ordered that the Plaintiff has the power of sale of the 3rd Defendant's property covered by a Legal Mortgage Exhibit "C". Cost of N10,000 awarded against the Defendants."

Consequent upon the judgment, the Court sold the Respondent Petro Filling Station at Sagamu for N5.5 Million Naira, thus leaving a debit balance of over N10 Million Naira still…

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