NATIONAL BANK OF NIGERIA LTD.
V.
THE ARE BROTHERS (NIGERIA) LTD
·
A. G. IRIKEFE, J.S.C (Delivering the leading Judgment): This appeal is a sequel to an interlocutory ruling delivered by the Federal Revenue Court on 9th July, 1974. There had been pending before that court, a winding-up petition filed by the appellants, a limited liability company engaged in banking business against the respondents, also a limited liability company. The said petition was brought on the ground that the respondents were unable to pay debt owed to the appellants. The relevant paragraphs in the petition allege as follows: -
"(5) There is relationship of banker and customer between your petitioner and the company.
(6.) The company is indebted to your petitioner in the sum of N156,088.62 as at 30th September, 1973 in respect of overdraft and banking facilities granted by the petitioner to the company together with interest accruing on the amount aforesaid.
(7.) On the 11th day of December, 1973 your petitioner served on the company by leaving it at the registered office of …