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UNITED BANK FOR AFRICA PLC v. DAVANDY FINANCE AND SECURITIES LIMITED & ANOR

(2015) JELR 36701 (CA)

Court of Appeal  •  CA/C/39/2011  •  14 May 2015  •  Nigeria

Coram
CHIOMA EGONDU NWOSU-IHEME JCA; ONYEKACHI AJA OTISI JCA; PAUL OBI ELECHI JCA;

Judgement

PAUL OBI ELECHI, J.C.A. (Delivering the Leading Judgment).: The 1st Respondent here in as Plaintiff of the High Court of Cross River State instituted the suit leading to this appeal by way of a Writ of Summons on the 15th November, 1999 against the Appellants and the 2nd Respondent as Defendant and claim as follows:

I. The sum of N7,259,232.00 from the Defendants jointly and severally being a loan and interest accrued thereon from the loan taken by the 1st Defendant and which payments from the proceeds of the contract executed with the loan and/or any other money that was to come into the account of the 1st Defendant to

the Plaintiff vide on irrevocable order for same to the account of the Plaintiff.

II. 10% interest per month on the said sum from October 1999 until Judgment is given and paid.

III. The sum of N250,000.00 being cost of this action.

The 1st Respondent originally instituted this action against the Appellant and 2nd Respondent by ex-parte application to place the Writ on the u…

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