IBRAHIM SHATA BDLIYA, JCA (Delivering the Leading Judgment): Rosehill Limited (the appellant) a Limited Liability Company, obtained various credit facilities from Guaranty Trust Bank Plc. (the respondent), a Commercial Bank. The facilities were secured with a legal mortgage, personal guarantee and indemnity. Unable to honour its payment obligations as and when due, the appellant sought for and obtained the restructure or elongation of the facilities, which as at 5th of May 2009 stood at N297 million naira. Notwithstanding the restructuring granted the appellant still continued in default resulting to a debit balance of N337,203,573.09 as at 30th of September, 2010. The respondent then served a letter of demand on the appellant. Not satisfied with the action of the respondent, the appellant through its counsel initiated a civil action against the respondent by filing suit KDH/KAD/983/2010 before the Kaduna State High Court of Justice (the lower Court) seeking for the reliefs enumerated…
ROSEHILL LTD
V.
GTB
(2016) JELR 40910 (CA)
Court of Appeal 26 May 2016 Nigeria
BriefBot Summary
- Rosehill Limited obtained credit facilities from Guaranty Trust Bank Plc. - The facilities were secured with a legal mortgage, personal guarantee, and indemnity. - The appellant sought and obtained the restructuring of the facilities. - T
Case Details
Suit Number:CA/K/243/2014
Judges:IBRAHIM SHATA BDLIYA Justice of The Court of Appeal of Nigeria
HABEEB ADEWALE OLUMUYIWA ABIRU Justice of The Court of Appeal of Nigeria
OLUDOTUN ADEBOLA ADEFOPE-OKOJIE Justice of The Court of Appeal of Nigeria
Counsel:J.B. Daudu, SAN with him, A.O. Obi, E.O Isieamen, L.E. Oga, B.Y. Dangana, F. T. Hassan and A. Muazu For Appellant
T. Okitikpi For Respondent
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