Ayotunde Olusanjo Odejide & Anor V. Asset Management Corporation Of Nigeria (2017) LLJR-CA - LawGlobal Hub
Ayotunde Olusanjo Odejide & Anor V. Asset Management Corporation Of Nigeria (2017) LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL MOJEED ADEKUNLE OWOADE, J. C. A. (Delivering the Leading Judgment) This is an Appeal against the decision of the Federal High Court, Ilorin Judicial Division, delivered by Honourable Justice R. N. OFILI-AJUMOGOBIA on the 7th June, 2016. […]
Ayotunde Olusanjo Odejide & Anor V. Asset Management Corporation Of Nigeria (2017)LawGlobal-Hub Lead Judgment Report – COURT OF APPEALMOJEED ADEKUNLE OWOADE, J. C. A. (Delivering the Leading Judgment)This is an Appeal against the decision of the Federal High Court, Ilorin Judicial Division, delivered by Honourable Justice R. N. OFILI-AJUMOGOBIA on the 7th June, 2016. The Respondent had instituted a Suit against the Appellants jointly and severally at the Federal High Court, Ilorin Judicial Division on a General Claim Form and Statement of Claim under AMCON ACT which was filed on 14th of December, 2015 claiming the following Reliefs:-a) AN ORDER granting judgment against the Defendants in the sum of N42,967,162. 95 156,805. 28K (Sic) (Forty-Two Million, Nine Hundred and Sixty Seven Thousand, One Hundred and Sixty Two Naira, Ninety-Five Kobo) being the debt owed the Claimant by the 1st Defendant as of 22nd June, 2015. b) Interest at the rate of 15% per annum on the judgment debt against the Defendants with effect from 22nd June, 2015. c) Interest at the rate of 15% per annum on the judgment debt against the Defendants, from the date until Judgment is fully liquidated. d) A DECLARATION that the Third party legal mortgage created on the12nd Defendant?s property crystallized upon the Default of the 1st Defendant to fulfill the terms and conditions of the overdraft facilities. e) AN ORDER granting leave to the Claimant to sell and dispose of the immovable property of the 2nd Defendant in satisfaction of the judgment debt. f) AN ORDER of Mandatory injunction restraining the Defendants from disposing of their assets, movable and immovable, wherever located by way of sale, transferor creation of third party interest however until the judgment debt is fully liquidated. g) The cost of this action. The defendants (now appellants) filed their amended statement of defence and counter claim on 9th day of February, 2016. In the said statement of defence, the appellants/counter claimants claim against the respondent as follows:-i. A DECLARATION that the defendants are not indebted to the Claimant for sum claimed or any sum at all.