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TATE INDUSTRIES PLC. V. DEVCOM MERCHANT BANK LTD.

(2000) JELR 14004 (CA)

Court of Appeal  •  CA/L/81M/99  •  19 Apr 2000  •  Nigeria

Coram
ATINUKE OMOBONIKE IGE JCA; PIUS OLAYIWOLA ADEREMI JCA; KUMAI BAYANG AKAAHS JCA;

Judgement

IGE, JCA (Delivering the Leading Ruling): On 6/8/98, the Federal High Court ordered that the appellant/applicant company be wound up for inability to pay its debts and consequently appointed the official Receiver of the Federal High Court to take charge of the affairs of the company as required by law. The appellant/ applicant is dissatisfied with this order and has appealed to this court.

In the interim, the applicant filed a motion before the lower court seeking the following orders:-

(1) An injunction restraining the official Receiver of the Federal High Court from selling or in any other way parting with the properties of the Appellant/Applicant at the Otta Factory, Ogun State pending the determination of the appeal herein.

(2) An order that the business operations of the Appellant/Applicant at the Otta Factory site be carried on by the Appellant/Applicant under the supervision of the Official Receiver aforesaid pending the determination of the appeal.

(3) An order that the takin…

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