The dissatisfied party, Slok Nigeria Limited (FIB) and FIB Group Limited, was contesting the ruling made by Justice Ebrima Jaiteh on 14 January 2021.
The notice of appeal outlined grounds on which the appellants (Slok Nigeria Limited/FIB) and FIB Group based the appeal.
They argued that Justice Jaiteh, the learned trial judge, committed a legal error by reviewing and subsequently overturning a judgment delivered by Honorable Justice Martin U. Okoi on April 11, 2017.
The appellants asserted that the proper procedures stipulated in Order 41 Rules 1 and 2 of Schedule 2 of the High Court Rules were not followed, as no special leave was granted, adding that Justice Jaiteh lacked jurisdiction to review and overturn the judgment, as expressly prohibited by Order 41 Rule 1 of Schedule 2.
The appellants further contended that the trial judge, Justice Jaiteh, erroneously concluded that Justice Martin U. Okoi's 2017 judgment lacked merit and consequently set it aside.
They further argued that this contradicts the clear and unambiguous provision of Order 23 Rule 14(4) and (5), which confirms that the judgment was indeed based on merit.
FIB Bank and FIB Group, the appellants, also argued that Justice Jaiteh exceeded his jurisdiction by critiquing aspects of his fellow judge's judgment, despite possessing co-ordinate jurisdiction with Justice Martin U. Okoi.
The appellants viewed such action as a violation of due process, which led to the judgment being set aside. They question Justice Jaiteh's authority to review and criticize another judge's decision.
Based on these grounds, the appellants requested the Court of Appeal to overturn the ruling of Justice Jaiteh in question. They also urged the court to dismiss the respondents' application for review filed in the lower court, along with an award of costs.
It would be recalled that, Lilium Grays Limited and Lilium Holdings Limited entered into an agreement to acquire First International Bank (FIB) from Slok Nigeria Limited.
This agreement, dated November 26, 2015, was implemented through two separate deeds of share transfer, which were duly registered with the Office of the Registrar General at the Ministry of Justice.
The two Lilium groups were obligated to take possession of the bank and pay Slok Nigeria (FIB) the contract sum of four million dollars ($4,000,000). Initially, the parties adhered to the terms of their agreement, but tensions arose when the payment of the contract sum became due.
Allegedly, Slok Nigeria approached the Liliums for payment, but the Liliums hesitated to fulfill their obligations, citing investments made in the bank.
Consequently, Slok Nigeria Limited initiated legal proceedings in the High Court of Gambia, accusing the Liliums of breaching the contract.
