RUBAYIZA v. MICROFINANCE INKINGI

RUBAYIZA v. MICROFINANCE INKINGI

The interest rate cannot be downsized as the debtor accepted it by not appealing, and the surety signed the contract knowing the rate. Damages awarded were justified due to default and prior notice. Moral damages are not awarded as they were not motivated, but advocate fees are awarded due to the necessity of legal representation at appeal. The mortgage issue is not examined as there is no evidence of registration and it is not the subject matter of the case.

Citation
R.COMA 0025/15/HCC
Parties
Appellant: Rubayiza Médard; Respondent: MICROFINANCE INKINGI Ltd; Debtor: Rwigema Baudouin; Guarantor: Mukamfizi Anastasie; Intervener: Bamurange Gerardine; Intervener: Muberarugo Delphine; Intervener: Ingabire Germaine; Intervener: Ishimwe Alice; Intervener: Rubayiza M.Diane
Court
Commercial High Court
Jurisdiction
Rwanda
Judgment Date
15 May 2015
Case Number
R.COMA 0025/15/HCC
Procedural Posture
Commercial Appeal / Judgment on Appeal
Outcome
Appeal dismissed; cross-appeal by MICROFINANCE INKINGI Ltd allowed in part; cross-appeal by interveners not examined.
Legal Topics
Interest Rate Adjustment, Surety Liability, Damages, Mortgage Validity, Advocate Fees
Source Language
en, rw
Contract Law Banking Law Civil Procedure Interest Rate Adjustment Surety Liability Damages Mortgage Validity Advocate Fees

Case Brief

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Parties

Rubayiza Médard

Appellant

MICROFINANCE INKINGI Ltd

Respondent

Rwigema Baudouin

Debtor

Mukamfizi Anastasie

Guarantor

Bamurange Gerardine

Intervener

Muberarugo Delphine

Intervener

Ingabire Germaine

Intervener

Ishimwe Alice

Intervener

Rubayiza M.Diane

Intervener

Procedural Posture

Commercial Appeal / Judgment on Appeal

Legal Issues

  1. 1 Whether the interest rate on the loan can be downsized to 18% per year
  2. 2 Whether damages awarded in the first instance were justified
  3. 3 Whether moral damages and advocate fees should be awarded at appeal

Ratio Decidendi

The interest rate cannot be downsized as the debtor accepted it by not appealing, and the surety signed the contract knowing the rate. Damages awarded were justified due to default and prior notice. Moral damages are not awarded as they were not motivated, but advocate fees are awarded due to the necessity of legal representation at appeal. The mortgage issue is not examined as there is no evidence of registration and it is not the subject matter of the case.

Court Disposition

Appeal dismissed; cross-appeal by MICROFINANCE INKINGI Ltd allowed in part; cross-appeal by interveners not examined.

Orders

  • Interest rate not downsized.
  • Procedural fees as previously ordered upheld.