[2020] KEMSET 79 (KLR)

[2020] KEMSET 79 (KLR)

The tribunal found that the claimants had proved, on a balance of probabilities, that the respondent borrowed Kshs. 100,000/- from the group and failed to repay. Although the respondent did not contest the claim, the tribunal scrutinized the interest rate sought (10% per month) and found it unconscionable and...

Source-derived case information.

Citation
[2020] KEMSET 79 (KLR)
Parties
Applicant: Joyce Rasugu; Applicant: Abel Kebaso Ototo; Applicant: Mosiabano Self Help Group; Respondent: Richard Maare Mogire
Court
Micro and Small Enterprises Tribunal
Jurisdiction
Kenya
Case Number
Tribunal Case 11 of 2019
Procedural Posture
Claim / Judgment
Outcome
Judgment for the claimants for Kshs. 100,000/- with interest at 14% per annum from date of borrowing until full payment and costs assessed at Kshs. 25,000/-.
Legal Topics
Loan Agreements, Interest Rates, Contract Enforcement
Source Language
en
Commercial and Corporate Loan Agreements Interest Rates Contract Enforcement

Source-derived case record

Summary, issues, holding and outcome

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Parties

Joyce Rasugu

Applicant

Abel Kebaso Ototo

Applicant

Mosiabano Self Help Group

Applicant

Richard Maare Mogire

Respondent

Procedural Posture

Claim / Judgment

  1. 1 Whether the respondent is liable to repay the principal loan amount advanced by the claimants.
  2. 2 Whether the interest rate of 10% per month claimed by the claimants is enforceable or unconscionable.
  3. 3 Whether the claimants are entitled to costs and at what rate interest should be awarded.

Ratio Decidendi

The tribunal found that the claimants had proved, on a balance of probabilities, that the respondent borrowed Kshs. 100,000/- from the group and failed to repay. Although the respondent did not contest the claim, the tribunal scrutinized the interest rate sought (10% per month) and found it unconscionable and against public policy. The tribunal exercised its discretion to award interest at the ordinary court rate of 14% per annum from the date of borrowing until full payment. The respondent was also ordered to pay the costs of the claim, assessed at Kshs. 25,000/-. The tribunal emphasized that even in unchallenged claims, reliefs that are unreasonable or contrary to public policy will not...

Court Disposition

Judgment for the claimants for Kshs. 100,000/- with interest at 14% per annum from date of borrowing until full payment and costs assessed at Kshs. 25,000/-.

Orders

  • Judgment entered in favor of the claimants for Kshs. 100,000/-.
  • Interest awarded at 14% per annum from date of borrowing until full payment.