Summary Judgment Procedure And Liquidated Money Demand: Appraising The Recovery Of Debt In The Law Court

Publication Information

Journal Title: Commonwealth Law Review Journal
Author(s): Peter Ikechukwu Gasiokwu, Ulisan Mogbitse Ogisi & Oluwabukola Oluwatosin Peters Omagbemi
Published On: 03/05/2023
Volume: 9
First Page: 159
Last Page: 175
ISSN: 2581-3382
Publisher: The Law Brigade Publisher

DOI Not Allotted [Get DOI]

Cite this Article

Peter Ikechukwu Gasiokwu, Ulisan Mogbitse Ogisi & Oluwabukola Oluwatosin Peters Omagbemi, Summary Judgment Procedure And Liquidated Money Demand: Appraising The Recovery Of Debt In The Law Court, Volume 9, Commonwealth Law Review Journal, 159-175, Published on 03/05/2023, Available at https://clrj.thelawbrigade.com/article/summary-judgment-procedure-and-liquidated-money-demand-appraising-the-recovery-of-debt-in-the-law-court/

Abstract

Almost all companies have a credit arrangement with a financial institution, particularly a bank. Others typically utilize long-term loans to pay capital expenditures, while some companies periodically use short-term loans to finance transitory working capital needs. All credit requests are required to undergo a thorough evaluation of the borrower’s capacity to pay back the debt when it is due. The issues faced by the banking industry in debt recovery were also reviewed, along with the laws and procedures for debt recovery in Nigeria. This paper demonstrates, among other things, that adjudication delays are one of the biggest barriers to an efficient debt recovery process in Nigeria. The primary goal of this paper is to advocate that the summary judgment procedure  in each state of Nigeria be revisited.

Keywords: Summary judgment procedure, Liquidated money demand, Garnishee proceedings, Undefended list procedure, Nigeria.

Share this research

Latest Publications

Commonwealth Law Review Journal
Scroll to Top