If you find this case helpful and would like to access more cases like this, please subscribe to LawPavilion PRIME here
CASE TITLE: NEWGATE MICROFINANCE BANK (NIG) LTD & ORS v. KEYSTONE BANK (2019) LPELR-47581(CA)
JUDGMENT DATE: 21ST MAY, 2019
PRACTICE AREA: CIVIL PROCEDURE
LEAD JUDGMENT: JOSEPH SHAGBAOR IKYEGH, J.C.A.
SUMMARY OF JUDGMENT:
INTRODUCTION
This appeal borders on Civil Procedure.
FACTS
This appeal is against the judgment of the High Court of Lagos State whereby it entered summary judgment in the sum of N15,000,000.00 (fifteen million naira) against the appellants in favour of the respondent being money owed the respondent by the appellants on a credit facility granted by the former to the latter.
The 1st appellant was granted a loan with interest of 19% per annum by the respondent guaranteed by the 2nd – 3rd appellants which rose to N15 million and became due without repayment upon demand by the respondent. The respondent brought an action for summary judgment in respect of the said sum of money owed by the 1st appellant and guaranteed by the 2nd – 3rd appellants. The action was supported by affidavit evidence and an amended statement of claim. The appellants filed a motion for extension of time to defend the action. The motion was filed a day after close of proceedings.
The Court below considered the defence contained in the motion and ruled that the defence was not bona fide and entered summary judgment for the said sum of N15 million in favour of the respondent against the appellant.
Dissatisfied with the judgment, the appellant appealed to the Court of Appeal.
ISSUES FOR DETERMINATION
The Court of Appeal determined the appeal on its merit.
DECISION/HELD
In conclusion, the Court of Appeal found the appeal unmeritorious and consequently dismissed the appeal.
RATIOS:
Introduction The legal profession has always been known for its high standards and unique demands,…
CASE TITLE: UNITY BANK PLC v. ALONGE (2024) LPELR-61898(CA) JUDGMENT DATE: 4TH APRIL, 2024 JUSTICES:…
CASE TITLE: ODIONYE v. FRN (2024) LPELR-62923(CA) JUDGMENT DATE: 5TH SEPTEMBER, 2024 PRACTICE AREA: CRIMINAL LAW…
CASE TITLE: EFFIONG v. MOBIL PRODUCING (NIG.) UNLTD (2024) LPELR-62930(CA)JUDGMENT DATE: 27TH SEPTEMBER, 2024PRACTICE AREA:…
CASE TITLE: ONWUSOR v. STATE (2024) LPELR-63031(CA) JUDGMENT DATE: 12TH NOVEMBER, 2024 PRACTICE AREA: CRIMINAL…
By Femi Falana SAN Introduction Last week, President Bola Tinubu ordered the immediate termination of…
View Comments
Benefitted from past posts.