DEBT RECOVERY LAWS AND PROCEDURE (3RD EDITION)

Format: Paperback

Dimensions: 156 x 247 x 68mm | 2,052g

Publication date: 01 Aug 2013

Publisher: Lexisnexis UK

Imprint Butterworths Law

Publication City/Country: London, United Kingdom

Edition: Revised

Edition Statement 27th Revised edition

Price:

ISBN10 1405778733

ISBN13 9781405778732

Description

Title: DEBT RECOVERY LAWS AND PROCEDURE (3RD EDITION)

Author: T.A.O. Tugbiyele

Publishers:

 

TABLE OF CONTENT

 

CHAPTER 1

RECOVERY OF DEBTS

1.01.  Methods for the recovery of debts 1

1.02.  Threatened and actual publication of names of

debtors in newspapers.  1

1.03.  Use of debt collectors 2

1.04.  Detention of debtors. 3

1.05.  Realization of security 4

1.06.  The “end justifies the means” approach. 5

1.07.  Right of guarantor to sue borrower for debt

and when accrues 10

1.08.  Use of legal practitioners and court process in

the recovery of debts. 10

1.09. Management of cases on Fast Track. 12

 

CHAPTER 2

PROBLEMS ASSOCIATED WITH THE RECOVERY OF DEBTS

2.01. Service of court processes 21

2.02  Bar to recovery of debts – Statute barred debts 23

2.03. Unenforceable judgments 29

2.04. Filing of counter claim by debtors 29

2.05. Filing application of stay of execution 30

2.06. Disputes on application of interest rate 39

 

CHAPTER 3

RECOVERY OF DEBT IN THE LAW COURTS

3.01. Procedure for summary judgment in the High Court 43

3.02  Defence to the summary judgment procedure. 44

3.03.  The procedure under Order 11 High Court of

Lagos State Civil Procedure Rules 2012. 51

3.04 Summary judgment based on admission of facts. 53

3.05. Summary judgment in default of defence. 58

3.06. Summary judgment in default of appearance 62

3.07. Prerequisites for obtaining judgment in

default of appearance  63

3.08. Setting aside default judgments. 65

3.09. Application for installmental payment 69

3.10. Undefended List Procedure 71

3.11.  Defendant’s notice of intention to defend. 75

3.12.  Defendant’s affidavit in support of notice of

intention to defend. 75

3.12.  Triable issue 89

3.13.  Judgment under the undefended list procedure. 90

3.14.  Defendant filling a statement of defence. 92

3.15. Summary judgment in Magistrate Courts

of Lagos State 93

3.16.  Summary judgment in magistrate courts Eastern

Nigeria and Cross-River State. 97

3.17. Summary judgment District Courts in

Northern Nigeria. 100

3.18. Confessing and entering up judgment 102

3.19. Jurisdictions of Magistrate courts. Debt recovery

Lagos State 103

3.20. Jurisdiction of Magistrate Courts in Edo & Delta,

Oyo, Ogun, Osun states – Debt recovery. 104

3.21. Jurisdiction of Magistrate Courts in Ondo and

Ekiti States – Debt recovery. 104

3.22. Jurisdiction of Magistrate Courts in Eastern Nigeria

and Cross River State  – Debt recovery 104

3.23. Jurisdiction of District Courts in the Northern States. 105

 

CHAPTER 4

TRIAL

4.01. Introduction  106

4.02. Pretrial meeting with the creditor and

other considerations.  106

4.03. Jurisdiction of court in debt recovery matters.  114

4.04. Jurisdiction of court in action by Banks

or against Banks 115

 

CHAPTER 5

ENFORCEMENT OF JUDGMENTS FOR THE RECOVERY DEBTS.

5.01. Writ of Fifa 131

5.02. The effect of writ of fifa 132

5.03. Execution of the writ against goods and chattel. 133

5.04.  Execution by and against the government 136

5.05. Sale of attached moveable property. 142

5.06. Disposal of the goods sold. 144

5.07. Attachment and sale of immovable property 145

 

CHAPTER 6

PRE-EMPTIVE REMEDIES IN THE RECOVERY OF DEBTS

6.01.  Introduction. 151

6.02. Mareva injunction: [the nuclear weapon

of commercial litigations]. 152

6.03.  Limitations of mareva injunction. 165

6.04. Mareva injunction after judgment 166

6.05. Preparation of order of Mareva injunction. 167

6.06. Breach of court orders for Mareva  injunction. 167

6.07.   Grant of Mareva Injunction by the Court of Appeal. 169

6.08.  Worldwide Mareva Injunction or Worldwide

Freezing Order.  169

6.09. Interim payment of debt 174

6.10. Interim attachment of debtor’s property. 174

6.11. Anton Piller Order. 175

 

CHAPTER 7

WRIT OF SEQUESTRATION

7.01.  Definition of writ of sequestration 186

7.02.  Procedure for the issuance of a

writ of sequestration 187

7.03. Effect of writ of sequestration. 188

7.04 Discharge of sequestration. 189

 

CHAPTER 8

JUDGMENT SUMMONS

8.01.  Definitions of judgment summons 190

8.02. Judgment Summons – Procedure. 190

 

CHAPTER 9

GARNISHEE PROCEEDINGS

9.01.  Definition of garnishee proceeding. 198

9.02.  Parties to garnishee proceedings.  198

9.03.  Subject matter of garnishee proceedings.  199

9.04.  Commencement of garnishee proceedings. 201

9.05.  Effect of service of order nisi on the garnishee. 202

9.06.  Proceedings after service of order nisi 203

 

CHAPTER 10

WINDING-UP PROCEEDINGS

10.01. Definition of winding-up proceedings 209

10.02. Commencement of winding up proceedings.  209

10.03. When a company is deemed unable to pay its debts 212

10.04. Winding up proceedings – Jurisdiction of court. 214

10.05. Petition. 215

 

CHAPTER 11

BANKRUPTCY ON RECOVERY OF DEBTS

11.01 Effect of bankruptcy. 219

11.02. Jurisdiction of court in bankruptcy proceedings.  220

11.03. Bankruptcy petition 221

11.04. Adjudication of bankruptcy. 226

11.05. Discharge of bankrupt. 227

11.06. Effect of bankruptcy on antecedent or other transactions. 230

11.07. Realization of property. 231

11.07. Limitations upon an undischarged bankrupt 232

 

CHAPTER 12

ENFORCEMENT OF FOREIGN JUDGEMENT.

12.01. Introduction. 234

12.02. Enforcement in Nigeria of judgments obtained

in foreign courts  234

13.03  Enforcement of judgments of Nigeria in

courts in other countries. 237

 

FORMS AND PRECEDENTS

Letter of demand of debt 240

Default summons 242

Undefended list 247

Application to levy execution on immovable properties 251

Application for judgment 254

Garnishee proceedings 262

Application for mareva injunction and

attachment of Property  267

An Order Of Interim Attachment Preservation Of The Defendant’s Movable And Immovable Properties

Including Landed Properties 281

Statement of claim 286

Petition for winding-up of company 289

Defenses – debt recovery action 296

Writ of summons 300

Affidavit of urgency 305

Mereva injunction motion ex-parte 307

Motion for release of attached property pursuant to

application for mareva injunction and interim

attachment of property 313

Application for order for discharge of mareva injunction

and interim attachment of property 316

Affidavit of urgency – application for mareva injunction

and interim attachment of property 322

Application on notice for mareva injunction and

interim detention of proterty 323

Particulars of claim 327

Affidavit of urgency – mareva injunction and

interim detention of property 330

Application – mareva injunction and interim

detention of property 332

Order of court on application mareva injunction

and interim detention of property 338

Application directing a bailiff to inspect the premises

where property to be attached is kept 339

Application for mareva injunction and

attachment of Property  342

Application for the discharge order for mareva

injunction and interim detention property 348

Statement of claim 353

Affidavit of urgency 354

Order for the interim detention of property 362

Undertaking as to damages 364

Precedents from the High Court of Justice Queens Bench

Division Commercial Court 366

Anton piller order based on annex 1

to the practice direction 372

Precedent of mareva injunction [Queens Bench Division] 383

Precedent of a combined mareva/anton piller

order [Chancery Division] 388

Precedent of a worldwide mareva

injunction [Chancery Division]  392

Injunction prohibiting disposal of assets worldwide.

Injunction prohibiting disposal of assets in

england and wales 402

 

INDEX 408

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