R.E.A.N. LTD. & ORS. V. ASWANI TEXTILE INDUSTRIES LTD.

• Pages: 389-397

REAM. LTD. & ORS. V. ASWANI TEXTILE INDUSTRIES LTD.

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389

R.E.A.N. LTD. & ORS. V. ASWANI TEXTILE

INDUSTRIES LTD.

ROYAL EXCHANGE ASSURANCE

10 NIGERIA LTD. & ORS.

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APPLICANTS

V.

ASWANI TEXTILE INDUSTRIES LTD.

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RESPONDENT

APPEAL No. SC.124/1991.

15

SUPREME COURT OF NIGERIA

KARIBI-WHYTE,

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J.S.C.

KAWU,

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J.S.C.

BELGORE,

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J.S.C.

OLATAWURA,

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J.S.C.

20

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A KPATA ,

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J.S.C.

28th February, 1992.

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Practice and Procedure -

Counter-affidavit - When necessary - Useless where applicants

affidavit is self contradictoty or when all the facts contained in it are not sufficient to

sustain the prayers of the applicant - Stay of Execution - Parity in the abilities of parties

to make payment or refund of judgment fund - Proper order to he made considered.

Evidence -

Affidavits and counter-affidavits - Useless to file a counter-affidavit where

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applicants affidavit is self-contradictory.

ISSUES:

Whether the terms of the grant of stay of execution made by the Court of Appeal

can be varied and if so to what extent?

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FACTS:

The plaintiff/respondent sued the appellants in Lagos High Court and was

awarded the sum of fs125,091,253.00 with interest at 14% per annum from 21st

October, 1982 up to day of judgment being an agreed amount between the parties

in settlement of liability due under an insurance cover. The appeal of the appellants

40 against the judgment of the High Court to the Court of Appeal was dismissed. The

appellants further appealed to the Supreme Court and applied for a stay of

execution pending the determination of the appeal to the Supreme Court. The

Court of Appeal granted the application for stay of execution on the following terms:

1.

Applicants shall within thirty days from today, pay over to the respondents,

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the judgment debt plus interest.

2.

Upon payment, respondent shall, within 14 days procure a bank guarantee

from the Continental Merchant Bank of Nigeria Limited of Marble House,

1 Kingsway Road lkoyi Lagos, for the refund of the total amount plus

interest on same at the prevailing bank rate between now and the date of

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the judgment of the Supreme Court should the appeal be successful.