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NIGERIAN DEBTOR & CREDITOR LAW CASES [POLICY, PRACTICE & PUBLISHING LAW REPORTS. 3PLR]

Bankruptcy      Collections      Credit & Mortgage     Debt Recovery    Insolvency     Receivership    AMCON Actions

Comprehensive A-Z PDF Copy of this Index complete with "Citations" and "Main Issues" either singly or as a compendium of other CATEGORIES  - are available for a fee. Just fil this FORM HERE or email lawnigeria@gmail.com & treentrees@gmail.com or info@lawnigeria.com


TITLE

MAIN ISSUES

OBIKOYA V. WEMA BANK LTD

 

OCHIE V. AJOSE

 

ODEDINA V. FASHINA

 

ODUNSI V. AKINTOYE

DEBTOR AND CREDITOR:- Law of Contract - Breach - One third in agreement not paid - defendant found in breach - Amount refused - No basis since it was not a question of Quantum Meruit - Appeal allowed and full one third agreed upon decreed.

OGBENI RAUF ADESOJI AREGBESOLA V. BARISTER NIYI OWOLADE & ANOR

 

OGBODA V. ADULUGBA

 

OJIKUTU V. A.C.B. LTD.

DEBTOR AND CREDITOR:- Rule in Smith v. Selwyn – Whether not applicable where defendant alleges fraud by plaintiffs –Implication for judgment debt - Rate of interest - Judgments Act 1838, s.17.

OJO V WILLIAMS

DEBTOR AND CREDITOR:- Garnishee proceedings – Money in custodia legis or in hands of Treasurer – How treated

OKAFOR v A. C. B. LTD.

DEBTOR AND CREDITOR:- Recovery of bank loan – Proper procedure - Claim for money lent by bank to defendant - Settlement of purchase price of goods bought – How treated

 

OLALOMI INDUSTRIES LTD. v. NIGERIAN INDUSTRIAL DEVELOPMENT BANK LTD.

DEBTOR AND CREDITOR:- Bank loan – National Industrial Bank – Loan secured by way of mortgage over property and floating assets – Action to recover same

 

ONWUGBOLU ATUANYA  AND ANOTHER vs. ODITA ATUANYA AND ANOTHER

 

OYEGBOLA V ESSO

 

P. C. ENYE V. KEVIN OGBU

DEBTOR AND CREDITOR:- "Debt and liquidated money demand" -  The meaning of "debt" and "liquidated money demand"

 

PATAMA LIMITED & ORS v. UNION BANK OF NIGERIA PLC

DEBTOR AND CREDITOR: Bank – Recovery of outstanding balance on the overdraft facility via a cross claim – Relevant considerations for success

PEOPLES' DEMOCRATIC PARTY v. EJIKE OGUEBEGO & ORS

 

PRINCE ABDUL RAHMAN BIN TURKI AL SUDAIRY V ABU-TAHA AND ANOTHER

 DEBTOR AND CREDITOR LAW:- Recovery of payment for goods not delivered – Use of Mareva Injunction – Prevention of dissipation of asset or the absconding of debtor - When suitable – Whether limited to foreigners resident abroad

 

RANK SORHAINDO v. CLEMENT OKPOSUOGO

 

RE TUCKER (A BANKRUPT), EX PARTE TUCKER

DEBTOR AND CREDITOR:- Inquiry as to debtor’s dealings and property – Summons to persons capable of giving information – Service – Service out of jurisdiction – Summons to any person capable of giving information – Any person – Whether court having jurisdiction to authorise service on ‘any person’ outside jurisdiction – Whether court having jurisdiction to authorise service on British subject resident abroad – Bankruptcy Act 1914, s 25(1) – Bankruptcy Rules 1952, r 86.

REUBEN N. A. EKWUNIFE V. WAYNE (WEST AFRICA) LIMITED

 

RIGHT CHOICE ELECTRONICS LTD. V. KELVIN FESTUS INTERNATIONAL LTD

DEBTOR-CREDITOR LAW- UNDEFENED LIST PROCEDURE:- Distinction between cases in which the Court fixed the return date to be for "mention" and where it is for "hearing- Duty of Defendant to file the notice of intention to defend within the time stipulated by the Rules before the return date fixed for the hearing of the suit - Effect of failure to enter a notice of intention to defend by the appellant within the time stipulated - Condition precedent to be proved by a claimant before a court is called upon to enter judgment in favour of a claimant in the absence of a Notice to defend the suit coupled with an affidavit disclosing a defence on the merit

SALAMI AGBAJE V. P. W. WILLIAMS

DEBTOR AND CREDITOR LAW:- Recovery of money paid under order made on judgment debtor summons which was later rescinded – Action to recover amount as money had and received

SALZGITTER STAHL GMBH v. TUNJI DOSUMU INDUSTRIES LTD

DEBTOR AND CREDITORRECOVERY OF OUSTANDING SUM DUE ON CONTRACT

SANTOS M. BATALHA v. WEST CONSTRUCTION COMPANY LIMITED

DEBTOR AND CREDITORRECOVERY OF SALARY ARREARS:- Defence that contract of employment IS illegal having not satisfied statutory conditions under the Immigration Act – Attitude of court thereto

SKYMIT MOTORS LIMITED V. UNITED BANK FOR AFRICA PLC.

DEBTOR AND CREDITOR - AWARD OF INTEREST:- Whether the court in the absence of a contractually agreed rate should award party the general rate of interest applicable to Judgment debts

SOUTH TRUST BANK & ORS v. PHERANZY GAS LIMITED & ORS

DEBTOR AND CREDITORLOAN STRUCTURING:- Concurrent Use of Loan Agreement, Guarantor Agreement, and Promissory Notes to secure bank loan repayment – Effect

DEBTOR AND CREDITORLOAN ASSIGNMENT:- Bank loan backed by guarantee – Whether can be unilaterally assigned/transferred by creditor so long as terms of the loan agreement does not change – Whether transfer/assignment constitutes breach of loan agreement - Repayment of loan value by guarantor to purchaser of loan on default of primary debtor – Right of guarantor to recover from primary debtor

THE BRITISH & FRENCH BANK LTD V. S. O. AKANDE

DEBTOR AND CREDITOR LAW:- Recovery of debt created via bank overdraft  - Foreclosure of property deposited as security of such debt – Need to comply with statutory requirements regarding the validation of equitable interest over such property

THE SHELL PETROLEUM DEV. CO. OF NIG. LTD v. CHIEF MARK EJEBU & ANOR

DEBTOR AND CREDITOR:- Recovery of debt arising from contract which interest was statute barred - Whether an acknowledgement or promise to pay after limitation period must be very clear to raise any inference of acknowledgment or enforceable promise to pay the debt – Need for trial Judge not to confuse the right of the Plaintiff to enforce an acknowledgement by the defendant of a liability of action that had become statute barred with whether the acknowledgment has the effect of enlarging the limitation period - Whether the principle of acknowledgment or promise to pay debt does not extend the period of limitation – Whether the fact that the acknowledgment or promise to pay liability came upon negotiation, during or post negotiation does not extend the limitation period statutorily prescribed – Whether an acknowledgment or promise to pay liability that is statute barred creates or establishes a fresh contractual relationship

THOR LIMITED V. FIRST CITY MERCHANT BANK LTD.

 

TONIQUE OIL SERVICES LIMITED & ANOR V. UNITED BANK FOR AFRICA PLC

 DEBTOR AND CREDITOR LAW:- Recovery of bank overdraft to corporate entity backed with personal guarantee of Managing Director of Company – Action to recover same – Whether guarantor is a necessary party  

TRAVEL AND HOLIDAY CLUBS, LTD., RE,

DEBTOR AND CREDITOR:- Winding-up – Compulsory winding-up – Board of Trade’s application – Just and equitable – Evidence – Inspectors’ report – Report admissible – Sufficiency as evidence – Misconduct or fraud – Order made on consideration of report alone when uncontradicted by evidence adduced by company – Companies Act, 1948 (11 & 12 Geo 6 c 38), s 169(3).

TSE KWONG LAM V WONG CHIT SEN AND OTHERS

DEBTOR AND CREDITOR:- Mortgage – Sale – Duty of mortgagee – Standard of duty in exercising power of sale – Duty to take reasonable care to obtain price equal to market value – Sale by auction – Sale to company in which mortgagee has an interest – Reserve price fixed by mortgagee – Advertisements announcing bare fact of auction with minimum description of property – Conditions of sale containing bare legal requirements – Mortgagee not obtaining expert or independent advice about sale – Property purchased by family company of mortgagee for reserve price – No competitive bidding at auction – Mortgagee providing interest-free loan to company to enable it to purchase property – Whether sale valid.

UGOCHUKWU  V COOPERATIVE AND COMMERCE BANK (NIGERIA) LIMITED

DEBTOR AND CREDITOR - MORTGAGE - Consent to mortgage or alienate land - Who to seek - Whether mortgagor can subsequently challenge validity of consent obtained by him.

UNION BANK (NIG) LTD  V ADEUYA

DEBTOR CREDITOR:- Deed of mortgage executed after grant of overdraft

 

UNION BANK OF NIGERIAN  PLC  V EDAMKUE

DEBTOR AND CREDITOR:- Deed - Delivery of - When deemed to be delivered - When it takes effect - Relevant considerations.

 

UNION BANK OF (NIG) PLC  V. JASE MOTORS (NIG) LTD AND ANOTHER

 

UNION BANK OF NIGERIA LIMITED  vs. B.U.UMEH AND SONS

 

UNION BANK OF NIGERIA PLC V. BONEY MARCUS INDUSTRIES LTD.

DEBTOR AND CREDITOR LAW:- Recovery of judgment debt – Garnishee proceedings – How enforced – relevant considerations

UNION BANK OF NIGERIA PLC. V AYODARE AND SONS LTD.

 

UNION BANK OF NIGERIAN  PLC  V EDAMKUE

DEBTOR AND CREDITOR – JUDGMENT DEBTOR:- Obligation arising from undefended List procedure – Application to defend – When can be refused


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