GUARANTY TRUST BANK PLC v. MOBCOM TECHNOLOGIES LTD.

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Facts:

Mobcom Technologies Limited, the Respondent commenced an action before the High Court of Lagos where it sued Guaranty Trust Bank Plc, the Appellant in this appeal. The Respondent sought to claim as special damages the sum of N14,000,000 from the Appellant for loss of anticipated profit in respect of a contract worth N24,000,000.00 which contract became frustrated and eventually got terminated because of the actions of the Appellant. The Respondent also claimed the sum of N25,000,000 as general damages.
The Appellant in its statement of defence alleged that the Respondent was negligent and failed to mitigate its damages if it suffered any. The trial judge entered judgment in favour of the Respondent but reduced the Respondent’s claim of N14,000,000.00 (Fourteen Million Naira Only) as special damages for negligence and awarded N12,000,000.00 (Twelve Million Naira Only) against the Appellant, due to the Respondent’s contributory negligence. The Appellant’s dissatisfaction with this judgment led to this appeal. Aggrieved by the decision of the trial court, the Appellant appeals to the Court of Appeal sitting in Lagos.

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