RUKERIKIBAYE v. ECOBANK LTD
ECOBANK Ltd fulfilled its obligations under the loan and leasing agreements, disbursing all agreed funds and more; Rukerikibaye failed to prove entitlement to further sums or damages for alleged non-disbursement or improper debits. The bank's use of multiple accounts for set-off was lawful under the principle of account unicity. ECOBANK Ltd is entitled to repayment of outstanding principal and interest, less certain amounts for proven bank errors. Rukerikibaye is entitled to retain the vehicles upon payment of a nominal sum as per contract, but not to additional damages or penalties.
Source excerpt
- Loan agreements
- Credit facility
- Leasing contracts
- Account management
- Damages for breach of contract
- Banking operations