On Tuesday 13th March, 2001 Belgore, C. J. sitting in the Federal High Court holden at Lagos made the following orders;
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"1.
That the Bill of Sale relating to the Vessel M/T Leona 11 be rectified to bring out the order of the Court by deleting the expression 'USD 300,000 only paid to us' where the words occur in the agreement and substituting therefore the expression 'USD. 300,000 and further sums to be paid to us in accordance with the terms of agreement dated 19th October, 1998 a copy of which was annexed to the affidavit of one Captain Ihenacho deposed to on 2nd October 1998 (sic) and filed in Court on the same date bringing the total sale price of Vessel Leone 11 to USD. 1,300,000.00.'
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2.
That the vessel M/T Leona 11 should be re-arrested and detained by the Admiralty Marshall as security for the payment of the sum of $400,000 owed in respect of instalments of the purchase price of the aforesaid Vessel by it pursuant to the order of the Court;
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3.
That the Vessel Leona 11 be sold by the Admiralty Marshall in the event of the Respondent failing to pay the sum of $400,000 at once and further instalments due until the final balance of the total $1,300,000 being the sale price of the vessel is liquidated."
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Respondents appealed to the Court of Appeal which set aside the orders and ordered that the vessel be released to the Respondent.
Dissatisfied Appellant, the Vessel Leone II and Owners of the Vessel Leona II appealed to the Supreme Court. Respondents to the appeal are the Plaintiff/Respondent, First Fuels Ltd., and the Respondent/Respondent, Integrated Oil and Gas Ltd.
