THOR LTD.
V.
FCMB LTD.

JELR 45305 (SC)    

Supreme Court  ·  Nigeria
CORAM
SALIHU MODIBBO ALFA BELGORE JSC (Presided) SYLVESTER UMARU ONU JSC UMARU ATU KALGO JSC DAHIRU MUSDAPHER JSC DENNIS ONYEJIFE EDOZIE JSC (Read the Lead Judgment)
Core Terms Beta
defendant
plaintiff
affidavit
rules
statement of claim
counter-claim
civil procedure
good defence
statement of defence
cause of action
court of appeal
prima facie case
sufficient facts
affidavit of merit
case
high court of lagos state
summary judgment
trial court
writ of summons
favour of the defendant
first issue
leading judgment
learned trial judge
second issue
above provision
basis of the affidavit of merit
case of n.g.s.c. ltd. v n.p.a.
contention of the defendant
defendant counter-claims
detailed particulars of the plaintiff
favour of the plaintiff bank
final judgment
following reliefs
grounds of facts
mere technical compliance
plaintiff bank
plaintiffs claims
preliminary requirement of the said order
respect of various credit facilities
said sum
security of the credit facilities
sole issue
statement of accounts exhibit ab
such remedy
sum of n1
sum of n12
terms of its claims
unanimous decision
whole amount

EDOZIE, J.S.C. (Delivering the Leading Judgment): In the High Court of Lagos State, in suit No. LD/1389/94, the respondent as plaintiff by its writ of summons and statement of claim, claimed against the appellant as defendant the following reliefs:-

"(a) The sum of N12, 303,145.19 (Twelve million, three hundred and three thousand, one hundred and forty-five Naira, nineteen kobo), being the outstanding debit balance on the defendant's account No. 5049400/820 with the plaintiff as at 31st of December, 1993, in respect of various credit facilities (banker's acceptance, revolving credit and overdraft) granted by the plaintiff to the defendant between December, 1987 and February, 1989.

(b) Interest on the said sum at the rate of 21% per annum from the 1st of January, 1994 until the whole amount outstanding is fully liquidated."

In reaction, the defendant filed a statement of defence and counter-claim wherein it denied the plaintiffs claims and by paragraphs 2 - 4 of the counter-claim, the…

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