Facts:

Mid-East Nigeria Ltd the respondent had entered a Mortgage debenture transaction with International Finance Corporation the appellant over its fixed and floating assets. International Finance Corporation had approached the Federal High Court Lagos for orders of interim possession of the assets to its receiver/manager Mr. Justine A. Emeh.

The Managing Director of Mid-East Nigeria Ltd claiming that he was unaware of the order of receivership made in Lagos against the property of Mid-East Nigeria Ltd went to the Federal High Court Umuahia seeking to declare the deed of debenture null and void and to restrain International Finance Corporation from taking steps pursuant to the debenture. As the plaintiff he filed a motion ex-parte, simultaneously with a motion on notice. The Umuahia Court granted the ex-parte order pending the hearing of the motion on notice.