NBM BANK LTD.
V.
OASIS GROUP LTD.

(2004) JELR 45005 (CA)    

Court of Appeal  ·  CA/L/377/03 ·  24 Jun 2004 ·  Nigeria
 · 
Other Citations
NBM Bank Ltd. v. Oasis Group Ltd. (2005) 3 NWLR (Pt.912)322
CORAM
JAMES OGENYI OGEBE Justice of The Court of Appeal of Nigeria DALHATU ADAMU Justice of The Court of Appeal of Nigeria SULEIMAN GALADIMA Justice of The Court of Appeal of Nigeria
Core Terms Beta
respondent
lower court
defendant bank
senior counsel
trial court
balance of convenience
counter-affidavit
determination of this suit
order
order of interlocutory injunction
brother ogebe
decision of the defendant
following reliefs
grant of injunction
learned trial chief judge
proprietary interest of the respondent
share
ample evidence
brief of argument
circumstances of the case
clear evidence
contravention of the defendant
disposal of the plaintiff
fact of the case
fair value of the defendant
federal high court
firm view
following circumstances
fundamental issues
going concern
grant of its application
high court
leading judgment
learned chief judge
learned trial judge
light of the affidavit evidence
new share certificates
new vital facts
order of perpetual injunction
present case
price of n1.00
respect of the plaintiff
restraining order
sale of the respondent
similar circumstances
tenor of order of the learned trial judge
transfer of the said shares
valuation of the defendant

OGEBE, J.C.A. (Delivering the Leading Judgment): The respondent sued the appellant in the Federal High Court by a writ of summons filed on the 23rd of October 2002 claiming the following reliefs:

"(i) A declaration that the valuation of the defendant's share carried out by KPMG Audit is not fair value of the defendant's shares.

(ii) A declaration that the reliance by the defendant on valuation carried out by KPMG Audit is in contravention of the defendant's Articles of Association.

(iii) A declaration that the decision of the defendant as manifested by the resolution of its Board on 18th defendant and consequently a nullity.

(iv) An order setting aside the valuation report of KMPG Audit on the ground that it does not conform with the requirements of the defendant's Articles of Association.

(v) An order setting aside the decision of the defendant made through its Board of Directors on 18th October, 2002 as it relates to the disposal of the plaintiff's shares in the defendant, as const…

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