BM Kimemia, Janet Mwatsama, B Sawe, F Lotuiya, P. Gichuki, M Chesikaw, PO Aol
The Cooperative Tribunal found that the claimant proved he guaranteed the respondent’s Sacco loans and was entitled to reimbursement after the Sacco deducted his savings.
BM Kimemia, Janet Mwatsama, B Sawe, F Lotuiya, P. Gichuki, M Chesikaw, PO Aol
The Cooperative Tribunal held that the claimant proved he guaranteed the respondent’s Sacco loans and was entitled to reimbursement after default deductions.
Macharia & 3 others v Ngung’u [2024] KECPT 904 (KLR)
Court
Cooperative Tribunal
Case number
Tribunal Case 391/E504 of 2022
Judges
J. Mwatsama, B Sawe, F Lotuiya, P. Gichuki, M Chesikaw, PO Aol
The Tribunal found that the claimants had guaranteed the respondent's loan, and upon his default, the Sacco lawfully deducted the outstanding loan balance from the claimants' deposits in accordance with the loan agreement. The law entitles guarantors to seek reimbursement from the principal debtor once they have settled the debt. The respondent's argument that his own deposits covered the loan was not supported by the evidence, which showed the claimants' deposits were used. Therefore, the respondent is liable to reimburse the claimants the amounts deducted from their deposits, as the right o…
Kamunya & 8 others v Waweru & another [2023] KECPT 1076 (KLR)
Court
Cooperative Tribunal
Case number
Tribunal Case 384 (E161) of 2021
Judges
BM Kimemia, J. Mwatsama, B Sawe, F Lotuiya, P. Gichuki, PO Aol, M Chesikaw
The Cooperative Tribunal held that guarantors who paid a defaulted SACCO loan were entitled to recover the sums from the principal borrower, but not damages or a refund from the SACCO.