Krazy Cool Beveages Ltd v NBS Bank Ltd (Civil Cause 111 of 2008) [2008] MWHC 31 (23 January 2008)
The respondent acted oppressively and in bad faith by refusing to accept payment after a minor default and failing to obtain a valuation report; therefore, the applicant is entitled to an injunction restraining the sale of the property.
- Citation
- [2008] MWHC 31
- Parties
- Plaintiff: Krazy Cool Beverages Ltd; Defendant: NBS Bank Ltd
- Court
- High Court of Malawi
- Jurisdiction
- Malawi
- Judgment Date
- 23 January 2008
- Case Number
- Civil Cause 111 of 2008
- Procedural Posture
- Civil Cause / Ruling on Application for Injunction
- Outcome
- Application for injunction allowed
- Legal Topics
- Injunctions, Mortgage Enforcement, Good Faith in Sale of Charged Property
- Source Language
- English
Case Brief
Summary, issues, holding and outcome
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Parties
Krazy Cool Beverages Ltd
Plaintiff
NBS Bank Ltd
Defendant
Procedural Posture
Civil Cause / Ruling on Application for Injunction
Legal Issues
- 1 Whether the respondent acted in good faith in exercising the power of sale over charged property
- 2 Whether the applicant is entitled to an injunction restraining sale of the property
Ratio Decidendi
The respondent acted oppressively and in bad faith by refusing to accept payment after a minor default and failing to obtain a valuation report; therefore, the applicant is entitled to an injunction restraining the sale of the property.
Court Disposition
Application for injunction allowed
Orders
- Respondent restrained from selling or disposing of the property to a third party
- Parties to execute the arrangement as previously agreed
Full Case Text
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