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STANBIC IBTC BANK PLC V. LONGTERM GLOBAL CAPITAL LIMITED & ORS

(2018) JELR 39450 (CA)

Court of Appeal  •  CA/L/427/2016  •  9 Mar 2018  •  Nigeria

Coram
MOHAMMED LAWAL GARBA JCA; BIOBELE ABRAHAM GEORGEWILL JCA; JAMILU YAMMAMA TUKUR JCA;

Appearances
Dr. K. U. K. Ekwueme with him, Mrs. Adetu Okusaga, Oluyori Ehimony and O. Odunuga, Esq. For Appellant Chief F.O. Fagbohungbe., SAN with him, Yomi Adeniran, Esq. for 1st - 4th Respondents.The 5th Respondent was not represented by counsel For Respondent

Judgement
<p><strong>BIOBELE ABRAHAM GEORGEWILL, JCA (Delivering the Leading Judgment): </strong>This is an appeal against the judgment of the Federal High Court, Lagos Judicial Division, Coram: J. T. Tsoho J., in suit No: FHC/L/CS/1383/2013. <em>Long term Global and Ors. v. Stanbic IBTC Bank Plc and Anor</em>, delivered on 14/12/2015 in which the sale of 100,000,000 units of share in the 5th Respondent sold through the Appellant to the 1st -4th Respondents was set aside and an order made against the 5th Respondent and the Appellant jointly and severally to refund to the 1st - 4th Respondents the sum of ₦1.3 Billion paid for the said 100,000,000 shares.</p><p>The Appellant was peeved with the said judgment and had promptly appealed to this Court vide its original Notice of Appeal filed on 15/12/2015 on 8 grounds at pages 1156-1162 of the Record of Appeal. The Appellant subsequently obtained the leave of Court and filed a Further Amended Notice of Appeal on 11 grounds of Appeal. The Record of Appeal in four Volumes was transmitted…</p>

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