africhick hatchers ltd vs crdb babk plc 2019 tzca 148 14 march 2019

africhick hatchers ltd vs crdb babk plc 2019 tzca 148 14 march 2019

The property mortgaged to the respondent, valued far in excess of the decretal amount and not subject to litigation, constitutes sufficient security for due performance of the decree; stay of execution is granted.

Citation
africhick hatchers ltd vs crdb babk plc 2019 tzca 148 14 march 2019
Parties
Applicant: Africhick Hatchers Limited; Respondent: CRDB Bank PLC
Court
TZCA
Jurisdiction
Tanzania
Judgment Date
14 March 2019
Procedural Posture
Civil Application / Ruling on Application for Stay of Execution Pending Appeal
Outcome
Application for stay of execution granted
Legal Topics
Stay of Execution, Security for Performance of Decree, Appeal Process
Source Language
English
Civil Procedure Banking Law Stay of Execution Security for Performance of Decree Appeal Process

Case Brief

Summary, issues, holding and outcome

More case intelligence is available

Unlock the full research layer for this judgment.

Full judgment text Downloadable case file Legal principles 3 Authorities cited 11 Party arguments 2 Amounts and remedies 2
Sign in to unlock

Parties

Africhick Hatchers Limited

Applicant

CRDB Bank PLC

Respondent

Procedural Posture

Civil Application / Ruling on Application for Stay of Execution Pending Appeal

Legal Issues

  1. 1 Whether the applicant has provided sufficient security for due performance of the decree as may ultimately be binding upon her
  2. 2 Whether the property offered as security is appropriate under the circumstances

Ratio Decidendi

The property mortgaged to the respondent, valued far in excess of the decretal amount and not subject to litigation, constitutes sufficient security for due performance of the decree; stay of execution is granted.

Court Disposition

Application for stay of execution granted

Orders

  • Stay of execution of the decree pending appeal
  • The mortgaged property operates as security for performance of the decree