MUHAMMED LAWAL SHUAIBU, JCA (Delivering the Leading Judgment): This appeal is against the judgment of the Honourable Chief Judge Michael Edem of the High Court of Cross River State delivered on the 26th day of March, 2018.
The respondent as claimant at the lower court took out a writ of summons against the appellants as defendants thereat claiming jointly and severally:
The sum of N128,000,000.00 (One Hundred and Twenty Eight Million Naira only) being the total amount of concession granted to the defendants upon their application for interest waiver on the outstanding balance of the loan and overdraft facilities granted to the 1st defendant which facilities were granted by the 2nd defendant and which sum the defendants agreed to pay within 180 days to which they have refused, failed and/ or neglected to pay despite repeated demands and entreaties.
An order for the sale of the 2nd defendant’s property lying and situate at plot 6, Government Residential Layout, Abasi-Obori, Calabar covere…