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ARABAMBI & ANOR.
V.
ADVANCE BEVERAGES IND. LTD.

(2005) JELR 47887 (SC)

Supreme Court 16 Dec 2005 Nigeria
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- The plaintiff/respondent, a beverage company, obtained a loan from the 2nd defendant (a bank) for plant and machinery, secured by a mortgage; after failure to secure working capital and default on repayment, the 1st defendant (a receiver)

Case Details

Suit Number:SC.114/2001
Judges:IDRIS LEGBO KUTIGI Justice of The Supreme Court of Nigeria UMARU ATU KALGO Justice of The Supreme Court of Nigeria DAHIRU MUSDAPHER Justice of The Supreme Court of Nigeria ALOMA MARIAM MUKHTAR Justice of The Supreme Court of Nigeria WALTER SAMUEL NKANU ONNOGHEN Justice of The Supreme Court of Nigeria
Counsel:Yusuf Alii, SAN, (with him, K. K. Eleja, Esq. and S. A. Oke, Esq.) For Appellant A. Awosanya For Respondent
Other Citations:Arabambi v. Advance Beverages Ind. Ltd. (2005) 19 NWLR(Pt.959)1 (2005) 12 S.C (Pt I) 60 (2005) 12 S.C (Pt I) 60, (2005) JELR 56144 (SC)

A.M. MUKHTAR, J.S.C. (Delivering the Leading Judgment): In its further amended-statement of claim before the Lagos High Court the respondent who was then the plaintiff claimed the following damages:-

"Particulars of special damages

Fixed Assets:

DM N

Plant and Machinery

(DM1 N4.06) 5,473,380 222,221,922.00

Import Duty Clearing 338,997.00

Transportation Insurance 16,774.00

Preliminary Expenses 5,000.00

Generator 590 KVA

Generator 12.5 KVA

(second hand value) 250,000.00

2 No. Yamaha Water pump 1,800.00

1 No. 7.5Hp Booster pump 3,000.00

2 No. 2Hp Water pump

sub-mersible with accessories 8,880.00

Hand drill 400.00

Diesing machine 460.00

NEPA transformer 37,440.00

2 No. Water tanks 25,000.00

2 No. Oil tanks 25,000.00

Furniture and fittings 16,065.00

Current Assets:

Stocks - raw materials and packing

materials including corks

and laboratory equipment 842,828.00

Cash at UBA Otta 9,325.00

Pre-operation expenses 1.541.346.00

₦25,344,237.00

General Damages ₦4,655,763.00

Total ₦30,000,000.00"

Th…

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