The Commercial Case Law Index is a collection of judgments from African countries on topics relating to commercial legal practice. The collection aims to provide a snapshot of commercial legal practice in a country, rather than present solely traditionally "reportable" cases. The index currently covers 400 judgments from Uganda, Tanzania, Nigeria, Ghana and South Africa.
Get started on finding judgments that are relevant to you by browsing the topic list on the left of the screen. Click the arrows next to the topic names to reveal a detailed list of sub-topics. Most judgments are accompanied by a short summary written by subject-matter expert postgraduate students from the University of Cape Town.
This is an appeal of the decision of the trial court that found the assignment of the respondent’s debt to the Assets Management Corporation of Nigeria (AMCON) as being illegal, unlawful and negligent in law.
The court determined the first issue: whether the trial court erred in its interpretation of the AMCON Act in relation to assignment of the debt and finding that the assignment was illegal, unlawful and negligent in law. The court held that the provisions relied on in the AMCON Act were clear and its only duty was interpreting the provisions according to their literal meaning not varying them. It was held that the trial court erred in its determination thereof. With respect to the other issues, the court held that the resolution of the first issue disposed the appeal making the other issues irrelevant. Accordingly, the appeal was allowed and the judgment of the trial court was set aside with costs in favour of the appellant.