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KOTOYE
V.
SARAKI

(1994) JELR 40862 (SC)

Supreme Court 29 Jul 1994 Nigeria
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- The case involves a dispute over shares in a bank, with the plaintiffs claiming that the defendant holds the shares in trust for them. - The defendant filed a motion to strike out the suits, arguing that the court had no jurisdiction to c

Case Details

Suit Number:SC.147/1993
Judges:ABUBAKAR BASHIR WALI Justice of The Supreme Court of Nigeria IDRIS LEGBO KUTIGI Justice of The Supreme Court of Nigeria MICHAEL EKUNDAYO OGUNDARE Justice of The Supreme Court of Nigeria SYLVESTER UMARU ONU Justice of The Supreme Court of Nigeria YEKINI OLAYIWOLA ADIO Justice of The Supreme Court of Nigeria
Counsel:Chief G.O.K. Ajayi, SAN.(with him, B. Ayanlaja, A.O. Kuyatsemi (Miss), Okosun and T.N. Osunde (Miss)) For Appellant Chief F.R.A Williams, SAN.(with him, Ladi Williams, J.U. Igwe (Miss), A.O. Jagun and S.N. Nelson-Cole (Miss) For Respondent
Other Citations:Kotoye v. Saraki (1994) 7 NWLR (Pt. 357) 414

KUTIGI, JSC (Delivering the Leading Judgment): In the consolidated suits Nos. LD/845/87 and LD/938/87 the plaintiffs together and the 2nd plaintiff alone respectively claimed against the defendant as follows:-

"LD845/87

(1) A declaration that the 2,400,000 shares and the Bonus, Scripts and other shares attached thereto standing in the name of the defendant in the Register of Shareholders of Societe Generale Bank (Nigeria) Limited is held by him in trust for the plaintiffs (or alternatively) for the 2nd plaintiff;

(2) An order directing an Inquiry into the amount of any dividends which may have been received by the defendant as holder of the afore-mentioned shares up to the date of the judgment herein;

(3) An order of injunction restraining the defendant from holding or dealing with the aforesaid shares otherwise than as trustee for the plaintiff and in accordance with the lawful direction of the plaintiff or the appropriate authorities.

(4) An order for rectification of the Registrar…

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