MAXIFUND INVESTMENTS & SECURITIES PLC v. F.B.N. PLC

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Facts:

This appeal arose from the judgment of the High Court of Lagos State (trial court) delivered on the 15th day of November, 2017. By a Writ of Summons and Statement of Claim, the Appellant instituted the action claiming certain reliefs. After being served with the Respondent’s Statement of Defence and Counterclaim, the Appellant filed a reply to the Statement of Defence and Defence to the Counterclaim.

The Respondent subsequently filed its reply to the Defence to the counterclaim. The trial commenced and, the Appellant called its witness. The Respondent also opened its case by calling its witness. Upon the conclusion of trial, the trial Court in its judgment dismissed the case of the Appellant for lacking in merit and granted part of the reliefs sought by the Respondent in the counterclaim.

Dissatisfied, the Appellant appealed to the Court of Appeal.

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