MR. Mahmud Tukur & Anor V. Interglobal Procurement Engineering Services Limited (2014)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

RITA NOSAKHARE PEMU, J.C.A. (Delivering the Leading Judgment)

This appeal is against the Judgment of Honourable Justice O. Okeke of the Federal High Court, Lagos Division in Suit No FHC/L/CS/351/08 in which he entered Judgment in favour of the Respondent. (Pages 607-608 of the Record of Appeal)-upon an application dated 14th day of October 2009, in which the Respondent sought Judgment against the Defendants upon their alleged admissions in their pleadings.

SYNOPSIS OF FACTS:

The Respondent was the Plaintiff in the lower Court.

In an amended Writ of Summons and in paragraph 37 of the further amended Statement of Claim dated 30th April 2009 and filed on same date, the Respondent instituted an action against the Defendants (Appellants in the present appeal) jointly and severally claiming the following reliefs viz:

(a) A declaration that the 1st Defendant as Director of the Plaintiff company, owed a fiduciary duty to the said Plaintiff Company to pilot, manage and utilize the Plaintiff Company’s funds properly, lawfully, judiciously and transparently and not to appropriate money belonging to the Plaintiff company.

(b) A declaration that the 1st Defendant acted in bad faith in breach of this fiduciary duty to the Plaintiff Company by misappropriating from the Plaintiff Company’s account between 2003 to 2006 respectively the sums of $USD142,753 and N24,780,424.00 respectively belonging to the Plaintiff company without her consent, mandate and authority.

(c) An order for the refund of the sum of $USD142,753 which the 1st Defendant illegally, unlawfully and furtively diverted and siphoned from the Plaintiff Company’s account to his personal use without the Plaintiffs Company knowledge, consent and authority. With interest at the rate of 25% per annum from 23rd October, 2007 until Judgment thereafter at the same rate per annum until the Judgment sum is paid.

(d) An order for the refund of the sum of N24,780,424 which the Defendants surreptitiously and fraudulently diverted and siphoned from the Plaintiff Company’s account without the Plaintiffs company consent mandate, and authority,

(1) Independent Energy Ltd – N18,401,610

(2) Daddo Maritime Service Ltd. – N3,179,354

(3) ECO Marine Limited – N3,199,460

N24.780.424

With interest at the rate of 25% per annum from 23rd October, 2007 until Judgment thereafter at the rate per annum until the Judgment sum is paid.