MOHAMMED LAWAL GARBA, J.C.A. (Delivering the Leading Judgment): The Appellants being dissatisfied with the dismissal of their claims against the Respondents in Suit No. FHC/L/CS/242/2016 by the Federal High Court, sitting at Lagos (Lower Court) in a decision delivered on 5th June 2017, brought this appeal vide the Notice of Appeal filed on 21st August, 2017 against it on four (4) grounds.
The background facts that led to the claims, briefly, are that the 2nd Appellant and the 1st Respondent, both foreign, entered into a Ship Management Agreement (SMA) on the 18th February, 2012, in Hong Kong for the management of the 1st Appellant Vessel MT Sea Tiger. In clauses 23 and 25 of their agreement, the parties agreed that any dispute arising from or in respect of the agreement shall be referred to International Arbitration in London. However, in alleged breach of the arbitration clauses/agreement, when a dispute arose as to payment of the management fees between the parties, the 1st Responden…