ADEBUKUNOLA ADEOTI BANJOKO, JCA (Delivering the Leading Judgment): This Appeal is against the Judgment delivered by Honorable Justice F.O.G. OGUNBANJO of the Federal High Court, Abuja delivered on the 31st Day of March 2022 in Suit No: FHC/ABJ/CS/433/2015, contained on Pages 670-691 of the Record of Appeal.
The Brief facts of the Case that gave rise to this Appeal were that, on the 14th day of March, 2014, the Federal High Court, presided over by Hon. Justice A. F. A. Ademola (as he then was), issued a Winding-Up Order against the 2nd Respondent and appointed the 1st Respondent as its Liquidator (See Pages 56-57 of the Record of Proceedings).
The Winding-up Petition was initiated due to the 2nd Respondent's insolvency, partly caused by its inability to pay debts and sustain operations.
The 1st Respondent, now responsible for all the 2nd Respondent's assets, liabilities, and business undertakings, initiated this action before the Lower Court against the Appellants through a Writ of Summon…