Facts:

The Appellant by a contract of Affreightment contained and evidenced by various Bills of Lading, contracted with the Respondents to carry about 280,000 bags of rice from Bangkok, Thailand, to Lagos and Port Harcourt in Nigeria for valuable consideration. In breach of the contract of Affreightment and their duty of care, the Respondents damaged and lost some of the Appellant’s cargo. The Appellant who was the Plaintiff at the trial Court thus by a Writ of Summons, instituted an action at the Federal High Court (trial Court), against the Respondent, claiming the sum of US$500,000 only or its equivalent in Naira with interest at 21% per annum until payment. The Appellant simultaneously also filed a motion ex-parte for the arrest and detention of ‘M.V. Matrix’, the 1st Respondent herein which was granted. The Respondents, in turn, filed two (2) applications: one for the release of the respondents’ vessel, and the other sought to shift the vessel to anchorage, pending the hearing of the former for release. The Appellant consented to the release of the Respondents’ vessel and therefore filed a consent to release. During the course of the proceedings, the Respondents filed a motion for stay of proceedings pending reference to arbitration in London. In response, a Counter-affidavit, in opposition to the application, was filed by the appellant. The trial court, in its ruling, found in favour of the respondents, granting their application for stay of proceedings and referring the parties to arbitration in London.
Dissatisfied with the trial court’s ruling, the Appellant appealed to the Court of Appeal (lower Court), and the lower court, by its judgment upheld the ruling of the trial court and consequently dismissed the appeal.
The Appellant was further dissatisfied with the judgment of the lower Court and appealed to the Supreme Court.