AUSTIN LAZ AND CO. LTD & ANOR
V.
AHMED

(2018) JELR 38877 (CA)    

Court of Appeal  ·  CA/B/193/2016 ·  17 May 2018 ·  Nigeria
CORAM
PHILOMENA MBUA EKPE Justice of The Court of Appeal of Nigeria MOORE ASEIMO ABRAHAM ADUMEIN Justice of The Court of Appeal of Nigeria MUDASHIRU NASIRU ONIYANGI Justice of The Court of Appeal of Nigeria
Core Terms Beta
court
respondent
issues
learned trial judge
appellant
trial court
2nd defendants
grounds of appeal
23rd day of february
honourable court
jurisdiction of the court
bank of industry ltd.
humble view
benin city
counter affidavit
court of appeal act
learned counsel
record of appeal
6th day of june
favour of the respondent
federal high court
following issues
issues of jurisdiction
order of perpetual injunction
s.16 of the court of appeal act
suit no. fhc
appellants brief of argument
appellants issues
briefs of argument
cases of okonkwo v. onovo
court answer
exercise of his power
fact of this case
following questions
following reliefs
folomo v. banigbe
further consideration of other issues
indebtedness of the sum of n120,000,000.00
lack of jurisdiction
law debtors of the lender
leading judgment
neglect of the 1st defendant
notice of appeal
order of court
order of this court
oshoboja v. amuda
paragraph b-c ratio
respondents case
said debt
said notice of appeal

MUDASHIRU NASIRU ONIYANGI, J.C.A. (Delivering the Leading Judgment): In Suit No. FHC/B/CS/08/2014 filed by Aliyu Ahmed (Receiver for the Bank of Industry Ltd.) as plaintiff against (1) Austin Laz and Co. Ltd. (2) Austin Lazarus Asinmonye as defendants at the Federal High Court, Benin City and which is by way of an originating summons asking the Court to determine the following questions:

(1) Whether giving the failure, refusal and/or neglect of the 1st Defendant/Appellant to pay up the term loan and accrued interest owned the lender, the 1st and 2nd Defendants/Appellants are at law debtors of the lender.

(2) Whether giving the failure, refusal and/or neglect of the 1st and 2nd Defendants/Appellants to repay their debts owned the lender, the lender is at law entitled to appoint a receiver over their assets charged under the Deed of Tripartite Agreement between Bank of Industry Ltd (as Lender) and Austin Laz and Co. Ltd. (as Borrowers) and Mr. Austin Asinmonye (as Mortgagor) (Deed of Trip…

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