NITEL TRUSTEES LTD & ANOR
V.
SYNDICATED INVESTMENT HOLDINGS LTD

(2014) JELR 46351 (CA)    

Court of Appeal  ·  CA/L/349A/2013 ·  23 May 2014 ·  Nigeria
CORAM
JOSEPH SHAGBAOR IKYEGH Justice of The Court of Appeal of Nigeria CHINWE EUGENIA IYIZOBA Justice of The Court of Appeal of Nigeria SAMUEL CHUKWUDUMEBI OSEJI Justice of The Court of Appeal of Nigeria
Core Terms Beta
learned trial judge
sister appeal
lower court
senior counsel
ltd v
cases of eliochim
leading judgment
notice of appeal
learned san
case of okoye v. c.p.m.b. ltd
judgment interest
2nd appellant
respondent
interest
favour judgment
liquidator of the 1st appellant
appellants
claim of an interest rate
balogun v. e.o.c
notice of preliminary objection
evidence act
cross appeal
behalf of the 1st appellant
sole issue
flagrant abuse of the process of this court
19th may
claim
sum of n36.1
pleaded facts
sum of money
credible evidence
decision of the lower court
sale of the 1st appellant
learned judge
proof of her claim
binding contract
second appeal
way of a cross appeal
affidavit of service
obasanjo v buhari
grounds of appeal
joseph shagbaor ikyegh
respondent vide
part of the decision of dada j
investment vehicle
veepee ind ltd v

CHINWE EUGENIA IYIZOBA, J.C.A. (Delivering The Leading Judgment): This is a sister appeal to CA/L/349/2007 just now delivered. The Appellants who were the defendants in the lower court and in whose favour judgment was delivered aside from the interest awarded the Respondent has appealed against that part of the decision of Dada J awarding the Respondent 21% interest on the 10% deposit held by the Appellants for over 10 months.

The 2nd Appellant is the Court appointed liquidator of the 1st Appellant and on behalf of the 1st Appellant placed an advert in This Day Newspaper of Wednesday, May 2nd, 2007 for the sale of the 1st Appellant's non-core properties all over Nigeria including the subject matter of this suit No 44 Gerald Road, Ikoyi, Lagos (hereinafter referred to as the property).

The Respondent herein bided for the property and paid the sum of N36.1 Million being 10% of the total bid sum of N361,000,000.00 (Three Hundred and Sixty One Million Naira). A letter of offer dated 20th …

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