Ratio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio DecidendiRatio Decidendi



AGIP (NIGERIA) LTD
V.
AGIP PETROLEUM INTERNATIONAL & ORS.

(2010) JELR 45366 (SC)    
Supreme Court  ·  SC.351/2002 ·  22 Jan 2010 ·  Nigeria
 · 
Other Citations
Agip (Nig.) Ltd. v. Agip Petroli Int'l (2010) 5 NWLR (Pt.
Agip (Nig.) Ltd. v. Agip Petroli Intl (2010) 5 NWLR (Pt. 1187) 348
CORAM
MARIAM ALOMA MUKHTAR Justice of The Supreme Court of Nigeria FRANCIS FEDODE TABAI Justice of The Supreme Court of Nigeria IBRAHIM TANKO MUHAMMAD Justice of The Supreme Court of Nigeria JOHN AFOLABI FABIYI Justice of The Supreme Court of Nigeria OLUFUNLOLA OYELOLA ADEKEYE Justice of The Supreme Court of Nigeria

Ratio Decidendi

Core Terms Beta
appeal
derivative action
writ of summons
respondents
lower court
federal high court
trial court
allied matters act
1st defendant
cross-appeal
5th respondents
determination of the motion
laws of the federation
exparte applications
sole issue
2nd defendant
appellant agip
behalf of the company
court of trial
learned trial judge
respondents' notice
13th respondents
3rd-15th defendants
agip petrol international b.v.
company secretary of the plaintiffs
court of appeal lagos
decision of the court of appeal lagos
entire processes
ex-parte order of interim injunction
favour of the 2nd defendants
federal high court lagos
federal high court procedure rules
fundamental conditions precedent
government of cross river state
granting leave
legal right
member of the nigerian shareholders solidarity association
minority share holders of the appellant
mr. akinwande
o. o. adekeye
order nullifying
proper procedure
purported sale of the 1st defendants
respondent company
respondent unipetrol nigeria plc
ruling of the lagos division of the court
such services
sufficient case of urgency
sufficient grounds

O. O. ADEKEYE, J.S.C: (Delivering the Leading Judgment): The appeal and cross-appeal, are against the ruling of the Lagos Division of the Court of Appeal delivered on the 22nd of July, 2002. at the court of trial, the Federal High Court Lagos, the minority share holders of the appellant sued the respondents on behalf of the company, in a derivative action and the cassus belli was meant to restrain the sale of 60% (sixty percent) shareholding in the 1st respondent company, Agip Petrol International B.V., to the 2nd respondent Unipetrol Nigeria Plc. to the endorsement on the writ filed by plaintiffs against the defendants jointly and severally, the claim read as follows:-

(1) A declaration that the purported sale of the 1st defendants' 225,902,969 (Two Hundred and Twenty-Five Million, Nine Hundred and Two Thousand, Nine Hundred and Sixty Nine) shares in the plaintiffs at the instance of the Directors who are in control and the other defendants in this suit in favour of the 2nd defendant…

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