Facts:

The Respondent is an African inter-governmental reinsurance organisation headquartered in Lagos, Nigeria. It acted as reinsurer under an insurance contract between the Appellant and a Liberian insurance company. A dispute arising from that contract resulted in a default judgment delivered on 5 April 2001 by the Civil Law Court, Sixth Judicial Circuit, Liberia, in favour of the Appellant in the sum of USD 768,950, following the Respondent’s failure to enter an appearance despite proof of service.

On 16 June 2004, the Appellant applied ex parte to the High Court of Lagos State to register and enforce the Liberian judgment pursuant to the Foreign Judgment (Reciprocal) Enforcement Act. The application was granted on 29 September 2004. Upon being served with the order of registration, the Respondent applied on 9 November 2004 to set aside the registration. The High Court dismissed the application on 17 May 2005. While that application was pending, the appellant had also sought, on 17 December 2004, an extension of time to register the foreign judgment and an order affirming its registration.