OCEANIC BANK & ANOR
V.
SIGMA APARTMENTS LTD

(2018) JELR 39114 (CA)    

Court of Appeal  ·  CA/A/349/2012 ·  28 Feb 2018 ·  Nigeria
CORAM
ABDU ABOKI Justice of The Court of Appeal of Nigeria EMMANUEL AKOMAYE AGIM Justice of The Court of Appeal of Nigeria MOHAMMED MUSTAPHA Justice of The Court of Appeal of Nigeria
Core Terms Beta
appellants
respondent
counsel
trial court
nwlr part
sigma apartments
learned trial judge
federal high court
interlocutory injunction
order
appellate court
certificate of occupancy no. 18cfw-12
jurisdiction of a court
legal mortgage
restraining order
sister company
statement of claim
constitution of the federal republic of nigeria
decision of the trial court
honest mistake
legal effect
power of sale
purported appointment of the 2nd defendant
2nd defendant
7th june
advertisement of the property
appointment of receiver
comm ltd
decision of the federal high court
declarative reliefs
deed of legal mortgage
emmanuel achukwu esq
exercise jurisdiction
following grounds of appeal
grant of interlocutory orders
inherent power of sale
interests of the plaintiffs
irregular exercise of sale
jurisdiction of the trial court
mere fact
order of interim injunction
order of perpetual injunction
reason of section
right of sale of the mortgaged property
ruling of the trial court
said property
suit no
surrounding circumstances

MOHAMMED MUSTAPHA, J.C.A. (Delivering the Leading Judgment): This appeal is against the decision of the Federal High Court, Abuja; Coram Hon. Justice A. Abdu-Kafarati, delivered on the 15th day of March, 2012: in Suit No: FHC/ABJ/CS/577/2011.

Facts in Brief:

The Respondent herein as the plaintiff through its Statement of Claim dated 7th June, 2017, sought for the following declarative reliefs against the Appellants/Defendants before the trial Court jointly and severally:-

a. A declaration that the 1st Defendant's power of appointment of Receiver/Manager under the debenture dated 7th May 2006 and registered at the Corporate Affairs Commission (CAC) on 27th July, 2007 did not include the property known and called SIGMA APARTMENTS" covered by Certificate of Occupancy No. 18CFW-12-ABC-6723-DEF-8U-20 lying, being and situate at No. 1 Embu Street, Off Aminu-Kano Crescent, Wuse II, FCT Abuja.

b. A declaration that the advertisement of the property known and called "SIGMA APARTMENTS" covered by C…

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