Joe-deb Ventures Limited & Anor V. Nigerian Deposit Insurance Corp. & Anor (2014)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

SOTONYE DENTON WEST, J.C.A. (Delivering the Leading Judgment)

This appeal stems from the decision of Hon. Justice Oluwole Fagbe of the Ondo State High Court sitting at Akure in a Ruling delivered on the 17th day of November, 2004 in favour of the plaintiffs (herein the respondents)

The appellants who were the defendants at the High Court brought a motion on notice praying that the trial court:

(a) Set aside its own judgment given in the Suit on 17th June, 2004 on the ground that it was obtained by fraud.

(b) The appellants also sought that the court set aside the Writ of Summons marked “undefended” on the ground that it was irregular and was not properly served on the appellants and thereby ousting the jurisdiction of the court on the matter.

(c) And such further or other orders as this Honourable Court may deem fit to make in the circumstances.

BACKGROUND FACTS OF THE CASE

The respondent took out a Writ of Summons under the undefended list on 2nd day of April, 2004 (page 21 of record). The respondents’ claims against the appellants as defendants jointly and severally are:

(i) A sum of Forty-Six Million, Four Hundred and Twenty-Nine Thousand, Seven Hundred and Seventy-Four Naira and Eighty Kobo only (N46, 429,774.08) being debt owed to the plaintiffs by the defendants which the defendants have failed, refused or neglected to pay despite repeated demand.

(ii) An interest of 20.5% per annum from 1/4/2004 up to the date of judgment i.e. 17/06/2004.

(iii) An interest of 5% per annum on the total debt from the date of judgment until the total debt is finally liquidated.

By the order of the honourable trial Judge dated 1st day of June, 2004 (contained on page 1 of the record), the leave of the lower court was obtained by the respondent to enter the suit for leaving (return date) on 17th day of June, 2004 under the undefended list and the case was then adjourned to 17th day of June, 2004 for hearing.

In its judgment on the 17th day of June, 2004, the trial court granted all the claims of the respondents, jointly and severally against the appellants to the tune of N46,429,774.08 (Forty-Six Million, Four Hundred and Twenty-Nine Thousand, Seven Hundred and Seventy-Four Naira, Eighty Kobo only). There was no defence from the appellant.

The appellants’ counsel filed a motion dated 22nd day of June, 2004 praying the court for the following reliefs: