RFG LTD & ANOR
V.
SKYE BANK PLC.
·
MORONKEJI OGUNWUMIJU, JCA (Delivering the Leading Judgment): This is an interlocutory appeal against the ruling of the Honourable Justice R. I. B Adebiyi sitting at the High Court of Lagos State, Lagos Judicial Division delivered on the 6th day of November, 2007. The facts that led to the appeal are as follows:
The Claimant, now the Respondent by a writ of summons dated 6th of December 2006 instituted an action against the 1st and 3rd Defendants, now Appellants and one other defendant at the trial court claiming the following reliefs.
1. The sum of ₦39,386,000.25 (Thirty Nine Million, Three Hundred and Eighty Six Thousand Naira and Twenty Five Kobo only) being the sum outstanding against the Defendants on a credit facility of ₦30,000,000 (Thirty Million Naira Only) extended to the Defendants by the Claimant on or about February 28, 2003
2. Interest on the said sum of ₦39,386,000.25 (Thirty Nine Million, Three Hundred and Eighty Six Thousand Naira and Twenty Five Kobo only) at the rate…