air t co ltd vs ultimate security t ltd 2012 tzhccomd 35 28 november 2012

air t co ltd vs ultimate security t ltd 2012 tzhccomd 35 28 november 2012

The contract is silent on the mode of interest; therefore, simple interest applies. The application to lift the Garnishee Order Nisi fails, but the sum to be garnished is TZS 1,383,638,655.34 or USD 890,372.36, not USD 999,237.14.

Citation
air t co ltd vs ultimate security t ltd 2012 tzhccomd 35 28 november 2012
Parties
Applicant/judgment Debtor: AIR TANZANIA COMPANY LTD; Respondent/decree Holder: ULTIMATE SECURITY TANZANIA LTD
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
28 November 2012
Procedural Posture
Commercial Case / Ruling on Application to Lift Garnishee Order Nisi
Outcome
Application dismissed with qualification
Legal Topics
Garnishee Proceedings, Interest Calculation, Contract Interpretation
Source Language
English
Civil Procedure Commercial Law Garnishee Proceedings Interest Calculation Contract Interpretation

Case Brief

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Parties

AIR TANZANIA COMPANY LTD

Applicant/judgment Debtor

ULTIMATE SECURITY TANZANIA LTD

Respondent/decree Holder

Procedural Posture

Commercial Case / Ruling on Application to Lift Garnishee Order Nisi

Legal Issues

  1. 1 Whether the Garnishee Order Nisi should be lifted
  2. 2 Whether the correct decretal sum is TZS 1,383,638,655.34 or USD 890,372.36 instead of USD 999,237.14
  3. 3 Whether simple or compound interest applies to the calculation of the decretal sum

Ratio Decidendi

The contract is silent on the mode of interest; therefore, simple interest applies. The application to lift the Garnishee Order Nisi fails, but the sum to be garnished is TZS 1,383,638,655.34 or USD 890,372.36, not USD 999,237.14.

Court Disposition

Application dismissed with qualification

Orders

  • The sum to be garnished is TZS 1,383,638,655.34 or USD 890,372.36 instead of USD 999,237.14 as stipulated in the Garnishee Order Nisi.
  • Respondent shall have its costs.