MASS PROJECTS LTD (No 1) vs. STANDARD CHARTERED BANK & YOO MART LTD (No 1)

RULING BENIN JSC The first respondent herein, namely, Standard Chartered Bank, sued the applicant company herein, namely Mass Projects Ltd, before the High Court and obtained judgment against the applicant. The first respondent moved to execute the judgment and thus caused the property of the applicant to be sold at a public auction. The successful bidder was the second respondent company herein called Yoo Mart Ltd. The sale took place on 24 October 2012. On 12 November 2012, the applicant Mass Projects Ltd (hereafter referred to as Mass Projects), filed a motion on notice at the High Court seeking for the annulment of the auction sale for alleged irregularities. The registrar fixed the said application for hearing on 23 November 2012. However, on 16 November 2012, the Registrar of the High Court issued a certificate of purchase in favour of the second respondent Yoo Mart Ltd. Before the application to set aside the sale was filed, the applicant company Mass Projects issued ...