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ZENON PETROLEUM & GAS LIMITED v. MV. "DELMAR" & ORS

(2016) JELR 37146 (CA)

Court of Appeal  •  CA/L/295/2011  •  4 Mar 2016  •  Nigeria

Coram
CHINWE EUGENIA IYIZOBA JCA; ABIMBOLA OSARUGUE OBASEKI-ADEJUMO JCA; JAMILU YAMMAMA TUKUR JCA;

Judgement

CHINWE EUGENIA IYIZOBA, J.C.A. (Deliv ering the Leading Judgment): This is an appeal against the Ruling of Lambo Akanbi J. of the Federal High Court, Lagos Judicial Division delivered on the 14th day of July 2010 striking out the suit of the 3rd and 4th Respondents for want of jurisdiction pursuant to the application of the 1st and 2nd Respondents and discharging the bank guarantee/security provided by the 1st and 2nd Respondents in favour of the Appellant, being the precondition upon which the release of the 1st Respondent from judicial arrest was predicated.

The facts and circumstances leading to the case as deduced from the Record of appeal may be summarized thus By a Statement of Claim dated 29/10/07, the 3rd and 4th Respondents herein as plaintiffs commenced on Admiralty action at the Federal High Court, Lagos against the 1st and 2nd Respondents herein as Defendants claiming the sum of USS 7,500,000.00 (seven Million, Five Hundred Thousand United States Dollars), being damages for…

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