SPARKLING BREWERIES LTD & ORS.
V.
UNION BANK OF NIGERIA LTD

(2001) JELR 44321 (SC)

Supreme Court · SC.113/1996 · 13 Jul 2001 · Nigeria
·

Other Citations

(2001) All N.L.R 575 (2001) 7 S.C (Pt.II) 146

CORAM

SALIHU MODIBBO ALFA BELGORE Justice of The Supreme Court of Nigeria MICHAEL EKUNDAYO OGUNDARE Justice of The Supreme Court of Nigeria UTHMAN MOHAMMED Justice of The Supreme Court of Nigeria OKAY ACHIKE Justice of The Supreme Court of Nigeria AKINTOLA OLUFEMI EJIWUNMI Justice of The Supreme Court of Nigeria

Ratio Decidendi

Core Terms ^Beta

defendant

appellants

court

unlawful interference

letters of credit

breach of contract

court of appeal

statement of claim

amended statement of claim

general damages

import licences

trial court

irrevocable letters of credit

learned trial judge

trial of this action

1st plaintiff

judgment of the trial court

2nd plaintiff

3rd-6th appellants

documentary credits

said contracts

business of the plaintiffs

further alternative

leading judgment

learned judge

open letters of credit

respective selves

said sum

appeals

benefits of the plaintiffs

business of the 3rd plaintiff

business of the 6th plaintiff

condition-precedent

customers of the respondent bank

decision of the court of appeal

diverse contracts

favour of certain third party

following conditions

following findings of facts

main complaint of the appellants

particulars of letters of credits contracts

plaintiffs claim

request of the appellants

specific purposes

unlawful cancellation of irrevocable letters of credit

use of the defendant

OGUNDARE, JSC (Delivering the Leading Judgment): The appellants were, at all times relevant to this case, customers of the respondent bank. All the appellants belong to a group known as Olori Group of Companies. Following the cancellation by the respondent of purported letters of credit issued by it at the request of the appellants, the latter sued, claiming as per paragraph 27 of their amended statement of claim-

"27. WHEREFORE all the plaintiffs claim against the defendant as follows:-

(i) an order of injunction restraining the defendant and all their agents whomsoever from taking any steps to sell any of the plaintiffs' properties mortgaged to it since the defendant is in fact indebted to the plaintiffs.

(ii) the sum of ₦656,919,000.00 only being special and general damages against the defendant for breach of contract arising from the unlawful cancellation of irrevocable letters of credit issued by the defendants, and so issued for valuable consideration given by the plaintiffs to …

SPARKLING BREWERIES LTD & ORS. V. UNION BANK OF NIGERIA LTD

SPARKLING BREWERIES LTD & ORS.
V.
UNION BANK OF NIGERIA LTD