The Court of Appeal held that the second appeal was not receivable because the appellants had lost on the same jurisdiction issue in the lower courts. It also declined the respondent’s cross-appeal.
The Court of Appeal partly allowed the appeal, confirming restitution of USD 80,000 and damages, but reduced the interest calculation to USD 51,291 from 13 March 2021.
The Supreme Court held that the mere issuance of cheques by KCF Ltd did not constitute valid payment as the cheques were not backed by sufficient funds from issuance to expiration. The underlying debt remained enforceable, and KCF Ltd was obligated to pay the outstanding amount. Interest was awarded at the average lending rate published by the National Bank of Rwanda. The Court found no grounds to pierce the corporate veil and hold Karangwa Raymond personally liable. KCF Ltd was ordered to reimburse CIMERWA Ltd for the previously paid 11,650,000 Frw and to pay legal costs.
The Supreme Court held that the loan agreement provided for a lump-sum late payment interest of 300,000 Frw, not a monthly interest, and that further interest should be calculated at the statutory average lending rate from the date of default to the date of judgment. There was no evidence of shareholder fraud or misuse of company assets, so shareholders could not be held jointly liable. Damages and legal costs were only partially awarded based on the outcome.
NPD Ltd is liable to pay GCC Engineering Ltd the outstanding contractual debt of 129,096,855 Frw for construction works, plus interest for late payment calculated at the average lending rate (10%) for one year and eight months, as NPD Ltd failed to prove any overpayment or counterclaim. Additional damages for economic loss and moral prejudice were denied as not sufficiently substantiated or previously pleaded. Legal costs are awarded to GCC Engineering Ltd as the prevailing party.
The Supreme Court held that Ndagijimana still owed UNGUKA Bank Plc 4,002,523 Frw on a loan, and upheld the bank’s claim while rejecting his counterclaims.
The High Court found that both Mujawamariya Devota and AMFM are jointly liable for the debt and damages arising from the dishonoured cheque, but reduced the awarded interest to match the principal loan agreement, holding that interest must not exceed the principal. The lower court's use of a repealed law was noted but did not affect the outcome. Moral damages were denied due to lack of prior claim. Costs were partially awarded to the appellants.
The Supreme Court held that Bank of Kigali breached its duty of care by allowing an unauthorized USD withdrawal and ordered repayment, interest, and distress damages.