bao bank t vs kilombero holdings ltd another 2009 tzhccomd 15 10 august 2009
The defendants are in breach of the terms and conditions of the facility letter, debenture, and personal guarantee, making them jointly and severally liable for the outstanding overdraft facility and accrued interest.
- Citation
- bao bank t vs kilombero holdings ltd another 2009 tzhccomd 15 10 august 2009
- Parties
- Plaintiff: BOA Bank (Tanzania) Ltd; 1st Defendant: Kilombero Holdings Ltd; 2nd Defendant: Eric Owen Winson
- Court
- TZHCCOMD
- Jurisdiction
- Tanzania
- Judgment Date
- 10 August 2009
- Procedural Posture
- Commercial Case / Judgment After Ex Parte Proof
- Outcome
- judgment for the plaintiff
- Legal Topics
- Overdraft Facility, Guarantee and Indemnity, Breach of Contract, Debt Recovery
- Source Language
- English
Case Brief
Summary, issues, holding and outcome
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Parties
BOA Bank (Tanzania) Ltd
Plaintiff
Kilombero Holdings Ltd
1st Defendant
Eric Owen Winson
2nd Defendant
Procedural Posture
Commercial Case / Judgment After Ex Parte Proof
Legal Issues
- 1 Whether the defendants are jointly and severally liable for the outstanding overdraft facility and accrued interest under the facility agreement, debenture, and personal guarantee.
Ratio Decidendi
The defendants are in breach of the terms and conditions of the facility letter, debenture, and personal guarantee, making them jointly and severally liable for the outstanding overdraft facility and accrued interest.
Court Disposition
judgment for the plaintiff
Orders
- Defendants to pay US$ 125,645.33 or Tanzanian shilling equivalent at the exchange rate on the date of payment
- Interest at 12% per annum from 1 September 2006 until judgment
Full Case Text
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