Julius Berger Nigeria Plc & Anor V Toki Rainbow Community Bank Limited (2019)

LAWGLOBAL HUB Lead Judgment Report

AMINA ADAMU AUGIE, J.S.C. 

The Respondent had financed two Local Purchase Orders issued by the first Appellant to “Pit-a-Pat International Nigeria Limited”, and in the initial Writ of Summons and Statement of Claim it filed on 1/6/1999 at the Rivers State High Court, Respondent as Plaintiff claimed four Reliefs against the following five Defendants it sued:

1. MR. PETER MORKAH

[The Managing Director of the second Defendant]

2. PIT-A-PAT INTERNATIONAL (NIG.) LTD.
3. MR. PETER NWACHUKWU

[The Contract Manager of the first Appellant Company]

4. MR. A. LOSSMAN

[The Commercial Manager of the first Appellant Company]

5. Julius Berger Nigeria Plc. (The first Appellant herein]

When Mr. A. Lossman left the Country. the Respondent applied to have his name struck out, which was granted, and first Appellant became the fourth Defendant. The Respondent later amended its Writ of Summons and Statement of Claim wherein it claimed eight reliefs set out in paragraph 19 of the Amended Statement of Claim:

(1) The sum of N1, 900, 800, 00 due and payable to the

1

Plaintiff by the 4th Defendant on 9/14/1997 following the assignment by the 2nd Defendant of the benefit of the contract between the 2nd Defendant and the 4th Defendant to the Plaintiff [the Respondent herein].

(2) Interest at the rate of 21% per annum for two months, that is to say, 26/3/1997 on the sum of N960, 000.00 drawn by the 2nd Defendant from the said loan, and at the rate of 10% per month from 27/5/1997 until Judgment.

(3) Interest on the Judgment debt at the rate of 10% per annum from Judgment until payment.

(4) N2,335, 000.00 due to the Plaintiff by reason of the assignment by 2nd Defendant to the Plaintiff of the benefit of its contract with 4th Defendant as per Local Purchase Order No. 48303 dated 2/5/1997,

(5) Interest on the said sum at the rate of 10% per month from 30/6/1997 until Judgment.

(6) Interest on the Judgment debt at the rate of 10% per annum from the date of Judgment until payment.