Stanbic Ibtc Bank PLC V. Long Term Global Capital Limited & Ors (2016)

LawGlobal-Hub Lead Judgment Report – COURT OF APPEAL

TIJJANI ABUBAKAR, J.C.A. : (Delivering the Lead Ruling)

This is an Application by the Appellant filed on the 9th of November 2015, by learned Senior Counsel Ayanlaja SAN and Tayo Oyetibo SAN on behalf of the Appellant/Applicant praying for the following Orders:

“a. Extension of time within which the Applicant may appeal against the Garnishee Order absolute made by the Federal High Court on 9th February, 2011 in Suit No. FHC/L/1491/2009 between LONGTERM GLOBAL CAPITAL LTD & ANOTHER V. STANBIC IBTC BANK PLC .

b. Permitting the Appeal to be maintained against the 3rd Respondent as Access Bank PLC (Formerly Intercontinental Bank Plc.).

c. Deeming as having been properly filed and served the Notice of Appeal filed on 27th October, 2015 a certified true copy of which is marked Exhibit STANBIC-3.

d. Departure from the Rules of this Court by allowing the Applicant to compile and transmit the record of Appeal in this case.

e. Deeming as having been properly compiled and transmitted the record of Appeal compiled by the Applicant and transmitted to this Court on 9th day of November, 2015.

f. An injunction (pending the

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determination of the appeal lodged herein) restraining the 3rd Respondent from paying over to the 1st and 2nd Respondents the amount of N2.5 Billion and interests thereon being the judgment debt attached pursuant to the Garnishee Order absolute made in favour of the 1st and 2nd Respondents by the Federal High Court on 9th February, 2011.

g. An injunction (pending the determination of the appeal lodged herein) restraining the 1st and 2nd Respondents from withdrawing from the 3rd Respondent or otherwise dealing in any manner whatsoever with the N2.5 Billion and interests thereon originally belonging to the Applicant which fund was attached by the Garnishee Order absolute made by the Federal High Court on 9th of February, 2011.

AND for such Order or further Orders as this Court may deem fit to make in the circumstance.”

The grounds upon which the Applicant seeks the above Orders are as follows:

1. The Applicant being a judgment debtor has a right of appeal against the Garnishee Order absolute, made on 9th February 2011.
2. The Garnishee proceedings were taken out in the Court below against the Garnishee in the name of

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