CHIEF ALIMONU AJUKWARA V. SEBASTINE IZUOJI
June 18, 2025NNANTA ORIANWO V. L. O. OKENE
June 18, 2025Legalpedia Citation: (2002) Legalpedia (SC) 26755
In the Supreme Court of Nigeria
HOLDEN AT ABUJA
Thu Jun 13, 2002
Suit Number: SC. 162/2000
CORAM
M.L. UWAIS
O. ACHIKE JUSTICE, SUPREME COURT
MICHAEL EKUNDAYO OGUNDARE JUSTICE, SUPREME COURT(Read the Leading Judgment)
A.I. KATSINA-ALU
U. MOHAMMED
PARTIES
JOSIAH CORNELIUS LIMITEDMASTER MALLEABLE FITING FOUNDERS NIGERIA LTD.THE WHEEL BARROWS HAND TRUCK AND CARTS MANUFACTURING CO. LTD.THE ROAD MASTER INDUSTRIES (NIG.) LTD. APPELLANTS APPELLANTS
CHIEF CORNELIUS OKEKE EZENWA RESPONDENTS
AREA(S) OF LAW
SUMMARY OF FACTS
The trial court, on application of the appellant, ordered instalmental payment of the value of the respondent’s share in the companies in dispute. The respondent only complained after collecting the first instalment.
HELD
The court held that the trial court had exercised its discretion judicially and judiciously in ordering installmental payment.
ISSUES
1. Whether the court below was right in holding that the reasons given by the trial court for arriving at the orders which it made were in law irrelevant and untenable and therefore insufficient to sustain the orders which it made. 2. Whether the court below was not in error in law to have interfered with the trial court’s exercise of its discretion in ordering an instalmental payment by the majority shareholder of the total value of the shares of the minority shareholder
RATIONES DECIDENDI
CASES CITED
Anyah v. A.N.N. Ltd. (1992) 6 NWLR (Pt 247) 319;|University of Lagos v. Aigoro (1995) 1 NWLR (Pt. 1) 143;|Niger Construction Ltd. v. Okugbeni (1987) 4 NWLR (Pt. 67) 787;|7-up Bottling Company Ltd. v. Abiola & Sons Ltd. (1995) 3 NWLR (Pt. 381) 257 at 285;|University of Lagos v. Olaniyan (1985) 1 NWLR (Pt. 1) 156|Okafor v. Bendel Newspapers Corporation (1991) 7 NWLR (Pt. 206) 651.
STATUTES REFERRED TO
NONE|
