MUNTAKA-COOMASSIE JCA (Delivering the Lead Judgment): The appellant herein, was the plaintiff in the court below, and claimed against the respondent in its amended statement of claim as follows:- “The plaintiff claims against the defendants jointly and serverally the sum of N814,771.18 at 21% interest rate from the 1st day of December, 1995 until judgment and thereafter at the court’s rate until the total liquidation of the judgment sum and costs of this suit.”
Pleadings were filed and exchanged and the parties called their respective witnesses. The facts of this matter I think are clear and not in dispute. The 2nd respondent was appointed by the 1st respondent as the receiver/manager of Kwara Textile Limited, the company having failed to redeem its debt with the 1st defendant, the 1st defendant thus refused to exercise its right of sale.
The Kwara Textile Limited was put up for sale by the 2nd respondent. The appellant thereafter showed interest in acquiring the Kwara Textile Limi…