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FEDERAL MORTGAGE BANK OF NIGERIA V TRANSNATIONAL FINANCE & INVESTMENT LTD & ORS

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FEDERAL MORTGAGE BANK OF NIGERIA V TRANSNATIONAL FINANCE & INVESTMENT LTD & ORS

Legalpedia Citation: (2003) Legalpedia (CA) 17391

In the Court of Appeal

Thu Nov 27, 2003

Suit Number: CA/L/75M/95

CORAM


JAMES OGENYI OGEBE JUSTICE, COURT OF APPEAL

ESO, JUSTICE SUPREME COURT

ESO, JUSTICE SUPREME COURT


PARTIES


FEDERAL MORTGAGE BANK OF NIGERIA APPELLANTS


1. TRANSNATIONAL FINANCE & INVESTMENT LTD2. LEGEND SECURITIES LTD3. WALE GOMEZ4. HARBOUR SAVINGS & LOANS LTD RESPONDENTS


AREA(S) OF LAW



SUMMARY OF FACTS

The Appellant/Applicant filed an application before the Court of Appeal praying for an order of stay of execution of the order of final judgment entered against the Appellant/Applicant for the sum of N1, 300,000.00 by the trial court pending the hearing and determination of the Defendant/Applicant’s appeal against same; an order granting leave to raise fresh issues and adduce further or additional evidence.


HELD


Application was partially granted.


ISSUES



RATIONES DECIDENDI


STAY OF EXECUTION- WHEN CAN BE GRANTED


“Stay of Execution is not granted unless special circumstances are established to warrant the grant because a successful litigant is entitled to the fruit of its litigation”. PER OGEBE, JCA


ADDITIONAL EVIDENCE -CONDITION WHERE SAME CAN BE ADDUCED ON APPEAL


“It is trite law, that additional evidence is not adduced in a Court of Appeal unless it is shown that such evidence could not have been produced with all diligence before the trial court”. PER OGEBE, JCA


STAY OF EXECUTION-WHAT THE COURT SHOULD CONSIDER IN GRANTING AN APPLICATION FOR


“The court in considering an application for grant of an order for stay of execution must weigh the balance of convenience between the contesting parties”. PER OGEBE, JCA


CASES CITED



STATUTES REFERRED TO



CLICK HERE TO READ FULL JUDGMENT

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