TRANSCORWA v. BCR

TRANSCORWA v. BCR

TRANSCORWA was not entitled to compensation as the transfer of 173,797 USD was made erroneously and returned; no loss attributable to BCR was proven. BCR was entitled to damages for reputational harm and unnecessary litigation, but only to the extent substantiated by the court.

Citation
RCOMA 0097/10/CS
Parties
Appellant: TRANSCORWA; Respondent: BCR
Court
Supreme Court
Jurisdiction
Rwanda
Judgment Date
20 July 2012
Case Number
RCOMA 0097/10/CS
Procedural Posture
Commercial Appeal / Supreme Court Judgment
Outcome
Appeals by both parties partially allowed; compensation and costs adjusted.
Legal Topics
Erroneous Bank Transfer, Commercial Damages, Compensation for Lost Tender, Bank Liability
Source Language
en, rw
Commercial Law Erroneous Bank Transfer Commercial Damages Compensation for Lost Tender Bank Liability

Case Brief

Summary, issues, holding and outcome

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Parties

TRANSCORWA

Appellant

BCR

Respondent

Procedural Posture

Commercial Appeal / Supreme Court Judgment

Legal Issues

  1. 1 Whether BCR intentionally withheld 173,797 USD sent to TRANSCORWA
  2. 2 Whether BCR should pay costs and damages for alleged intentional withholding of funds

Ratio Decidendi

TRANSCORWA was not entitled to compensation as the transfer of 173,797 USD was made erroneously and returned; no loss attributable to BCR was proven. BCR was entitled to damages for reputational harm and unnecessary litigation, but only to the extent substantiated by the court.

Court Disposition

Appeals by both parties partially allowed; compensation and costs adjusted.

Orders

  • TRANSCORWA to compensate BCR 1,000,000 RWF (including 500,000 RWF damages and 500,000 RWF costs).
  • TRANSCORWA to pay 62,700 RWF court fees within 8 days.