PROCEDURAL STEPS ON ASSESSMENT AND VERIFICATION IN FILING COURT PROCESSES IN THE FCT
HIGH COURT OF THE FEDERAL CAPITAL TERRITORY, ABUJA. PROCEDURAL STEPS
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| TITLE | MAIN ISSUES |
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A J BEKHOR AND CO LTD V. BILTON
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CAPITAL MARKET:- Stockbrokers – Capital market practices – Recovery of balance of money lent from time to time to customer – Counterclaims – Transactions relied on by the plaintiffs were nominee transactions – Issues of negligence – Whether the defence and counterclaim raise arguable points before court. |
| ANDREWS V. GAS METER COMPANY | CAPITAL MARKET:- Increase of capital – Preference Shares – How treated |
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CAPITAL MARKET: Shareholding, partnership and agency – Liability of an agent representing a foreign company with limited liability registration status – Applicable law |
| BELMONT FINANCE CORPORATION V. WILLIAMS FURNITURE LTD AND OTHERS
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CAPITAL MARKET LAW:- Shares – Purchase of company shares with financial assistance of company – Arm’s length transaction – Whether bona fide commercial transaction – Parties agreeing sale and purchase of company – Purchase financed by selling inflated asset to company and using money so obtained to buy company – Seller of company obtaining services of property expert in return – Transaction fair and bona fide as regards buyer and seller – Whether company’s shares is deemed purchased with financial assistance from company – Whether transaction illegal |
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CHRISTOPHER OKEKE V. SECURITIES AND EXCHANGE COMMMISSION & ORS.
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CAPITAL MARKET:- Publicly quoted company – Allegations of complicity in the misstatements in the statutorily required Annual Accounts filed with the Security and Exchange Commission other related matters of a criminal nature – Court/Tribunal with jurisdiction to entertain same – Whether Federal High Court or Investment and Securities Tribunal – Company and Allied Matters Act and Investments And Securities Commission Act – How inconsistencies between provisions of the two legislations are resolved
CAPITAL MARKET LAW:- Provision of Section 310 of the Investments And Securities Commission Act – Whether can override the provision of Section 251 (i) (e) of the 1999 Constitution (supra) – Whether the Securities and Exchange Commission has no judicial power under its establishment Act to constitute a panel to adjudicate over causes involving the determination of legal rights of persons, such as criminal allegations levied against a person – Section 6 (6) of the 1999 Constitution – Whether such judicial power falls within the ambit of the exclusive jurisdictional competence of the Federal High Court. See Section 251 (1) (e) of the 1999 Constitution |
| DR. SOLA SARAKI V. N.A.B. KOTOYE |
CAPITAL MARKET:- Shares – Disputed ownership – Interlocutory injunction restraining dealing therewith – When proper |
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INTERNATIONAL CREDIT AND INVESTMENT CO (OVERSEAS) LTD & ANOR. V. ADHAM AND ORS |
CAPITAL MARKET:- Register – Rectification – Transfers without transfer documents – Transfers without consideration – Whether shares held on constructive or resulting trust |
| LLOYDS TSB GEN. INSURANCE HOLDINGS AND ORS. V. LLOYDS BANK GROUP INSURANCE LTD |
CAPITAL MARKET – REGULATION OF INVESTMENT BUSINESS:- Guiding principles |
| CAPITAL MARKET – SHARES:- Shareholder and dealings in shares – Share warrants and dividends – Claim that dividends and bonuses due were not paid – How proved | |
| METAL CONSTRUCTION (W.A) LTD & ORS V. MRS. D.A. MIGLIORE & ANOR |
CAPITAL MARKET LAW:- Shares of a company – Transfer of same to Estate of deceased owner – Applicable rules – Rectification of Register – Duty of Company thereto |
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MOSELY V. KOFFYFONTEIN MINES, LTD.
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CAPITAL MARKET:- Shares – Issue of shares and Debentures at a Discount – Option to Debenture-holders to take fully paid Shares in Exchange for Debentures – Attitude of courts thereto |
| CAPITAL MARKET LAW:- Contributory – Directors – Transfer of Shares – Irregularity – 7 & 8 Vict. c. 110 – Costs. | |
| N.A.B KOTOYE V. MRS F.M. SARAKI & ANR.
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CAPITAL MARKET:- Shares – Ownership of by way of trustee – Claim for declaration, injunction and rectification of register thereto – How treated CAPITAL MARKET:- Law ousting jurisdiction of court inquiry into ownership of shares – Proper construction of – section 11 of Decree 25 of 1991 – Attitude of court thereto |
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RE: N.F.U. DEVELOPMENT TRUST, LTD.
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CAPITAL MARKET:- Shares – Scheme of arrangement – Compromise with creditors or members – Compromise or arrangement – Meaning – Element of accommodation on both sides – Company limited by guarantee having no share capital – Large membership – Members having very limited rights – Scheme whereby vast majority of members deprived of membership – Whether scheme qualifying as a ‘compromise or arrangement’– Companies Act 1948, s 206(1),(2) |
| RAJCO INTERNATIONAL LIMITED V. LE CAVALIER MOTELS AND RESTAURANTS LIMITED & ORS.
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CAPITAL MARKET LAW – CONTRACT FOR TRANSFER OF SHARES:- Agreement for sale of company shares – Transfer of shares between corporate entities – Key elements of a valid contract for transfer of shares between corporate bodies – Need to comply with the Articles of the vendor’s company relating to sale of shares including Resolutions of the Board – Effect of failure thereto |
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VALUE LINE SECURITIES INVESTMENT LIMITED V. OBUBOEGBUNAM J. ANAKWUBE
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COMMERCIAL LAW – CAPITAL MARKET: Meaning of capital market operator – Section 30 of the Investment and Securities Act – Professionals covered – Whether includes securities dealer, stock broker, sub-broker, jobber, share transfer agent, banker to an issue, trustee of a trust deed, registrar to an issue, merchant banker, issuing houses, underwriter, portfolio manager, investment adviser and such other capital market intermediaries as may be licensed by the Security Exchange commission in accordance with the regulations made under the Act COMMERCIAL LAW – CAPITAL MARKET:- contract between a capital market operator and its client, under which such an operator undertakes to verify the signatures of the owners of certain shares sold to its client and to effect a change in the ownership of those shares to the name of its client in the stock exchange, thereby perfecting the sale and transfer of the shares to its client – Whether a matter covered by or arising under the Investment and Securities Act – Dispute arising out of such a contract – Whether a dispute envisaged under the said Act COMMERCIAL LAW – CAPITAL MARKET:- Type of dispute that the Investment and Securities Tribunal can adjudicate on in exercise of the jurisdiction vested on it by Section 234 (1), (2) (a) to (f) of the Investment and Securities Act 1999 – Whether a State High Court equally has jurisdiction to entertain any dispute covered by or arising under the Investment and Securities Act including a dispute between a capital market operator and its client – Implication of the unlimited jurisdiction of the State High Court to hear and determine any civil or criminal proceedings vested on it by Section 236(1) of the 1979 Constitution of Nigeria [Section 272 of the 1999 Constitution of Nigeria] – whether Section 242 of the Investment and Securities Act by ousting the jurisdiction of a State High Court to entertain disputes arising under the Act, conflicts with Section 236 (1) of the 1979 Constitution [Section 272 of the 1999 Constitution of Nigeria] – Whether Section 242 of the Investment and Securities Act is rendered void ab initio by virtue of Section 1 (1) and (3) of the 1979 Constitution of Nigeria [Section 1 (1) and (3) of the 1999 Constitution] |
JUDGMENTS OF NIGERIAN COURTS |
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| By Substantive Areas | |
HIGH COURT OF THE FEDERAL CAPITAL TERRITORY, ABUJA. PROCEDURAL STEPS
DOWNLOAD OF A COPY OF THIS LAW IS AVAILABLE [N2000
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