Rwanda Case Law

GUARANTY TRUST BANK RWANDA Plc N’ABANDI v. COIMEX Ltd

Court

Court of Appeal

Case number

RCOMAA 00019/2023/CA

Both Mabuye Joséph and Musekera Emmanuel, having signed as joint sureties for the COIMEX Ltd loan, are jointly and equally liable for the outstanding debt of 65,296,272 Frw to GT Bank Rwanda Plc, including interest calculated up to the legal maximum. The release of collateral or partial payment by one surety does not extinguish joint liability until the entire debt is repaid. Claims for reimbursement of alleged overpayments and damages by the sureties lack merit as the outstanding debt remains. GT Bank Rwanda Plc is entitled to attorney fees as the prevailing party.

Source excerpt

• Loan restructuring
• Bank loan interest calculation
• Joint surety liability
• Guarantee enforcement
• Distribution of liability among sureties

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BUGINGO v. ECOBANK RWANDA PLC N’UNDI

Court

Supreme Court

Case number

RS/INJUST/RCOM 00011/2022/SC

The Supreme Court held that Bugingo Claude’s suretyship was valid, but it did not cover the restructured loan he was not notified of, and he was released from liability.

• Suretyship
• Loan restructuring
• Abusive contract clauses
• Subrogation rights
• Notice requirements
• Validity of unilateral contracts

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MUNYANEZA ET.AL v. ACCESS BANK Ltd

Court

Court of Appeal

Case number

RCOMAA 00090/2018/CA

The Court of Appeal held that the appellants remained liable as personal guarantors despite loan restructuring, and dismissed their appeal.

• Personal guarantee
• Loan restructuring
• Liability of guarantor
• Mortgage sale
• Damages and costs
• Personal-guarantee

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