ABOSELDEHYDE LABORATORIES PLC
V.
U. M. BANK LTD

(2013) JELR 50907 (SC)    

Supreme Court  ·  SC.276/2003 ·  8 Mar 2013 ·  Nigeria
 · 
Other Citations
Aboseldehyde Lab. Plc v. U.M.B. Ltd. (2013) 13 NWLR (Pt. 1370) 91
CORAM
MARY UKAEGO PETER-ODILI JSC OLUKAYODE ARIWOOLA JSC
Core Terms Beta
lower court
court
injunction
1st respondent
appeal
trial court
court of appeal
interlocutory injunction
stay of execution
2nd respondent
deed of mortgage debenture
order of stay of execution
lead judgment
circumstances of this case
exceptional circumstances
status quo
business premises
federal high court
facts of this case
learned justices of the lower court
ruling of the court of appeal
said decision
substantive issues
following reliefs
interim injunction
special circumstances
suit no. fhc
appellant’s company
appointment of the second defendant
entire facts of the case
hon. justice odunowo
instant appeal
lower courts
minds of the learned justices of the lower court
movable property
order of this honourable court
plaintiff’s factory
appellant’s indebtedness
application no. ca
assets of the respondent
court praying
deed of appointment of receiver
determination of the suit
execution of the decision of the court
grant of interlocutory injunction
hearing of the application
neglect of appellant
premises of the appellant
single issue

ONNOGHEN JSC (Delivering the Lead Judgment): This appeal is against the ruling of the Court of Appeal, holden at Lagos in an application No. CA/L /392M/2001 praying the court for an order for stay of execution/ injunction delivered on 18 December 2002 in which the court dismissed the application.

The facts of this case include the following:

By a Deed of Mortgage Debenture between appellant and 1st respondent at pages 40 - 66 of the record entered into on 21 May 1999,appellant mortgaged/charged all its movable property contained in the schedules thereto to the 1st respondent as security for appellant’s indebtedness to the said 1st respondent. Upon the failure/neglect of appellant to settle its said indebtedness, 1st respondent appointed 2nd respondent as a receiver/manager over the appellant vide the deed of appointment of receiver on 11 June 1999 - see pages 67 - 69 of the record.

On 5 July 1999, the 1st respondent filed an originating summons in suit No. FHC/L/CS/777/99 at the Fed…

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