china civil engineering ctc vs national insurance corporation ltd and another 2004 tzhccomd 24 23 april 2004

china civil engineering ctc vs national insurance corporation ltd and another 2004 tzhccomd 24 23 april 2004

The plaintiff is entitled to the claimed sum on admission, with interest at the current commercial rate from when the debt fell due to judgment, and thereafter at 7% until full satisfaction, as the delay in payment was unjustified and the defendants' financial difficulties were not supported by pleadings or conduct.

Citation
china civil engineering ctc vs national insurance corporation ltd and another 2004 tzhccomd 24 23 april 2004
Parties
Plaintiff: China Civil Engineering Construction Corporation; 1st Defendant: National Insurance Corporation Limited; 2nd Defendant: Parastatal Sector Reform Commission
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
23 April 2004
Procedural Posture
Commercial Case / Judgment
Outcome
judgment for the plaintiff
Legal Topics
Debt Recovery, Interest on Judgment Debt, Contractual Obligations
Source Language
English
Contract Law Commercial Law Debt Recovery Interest on Judgment Debt Contractual Obligations

Case Brief

Summary, issues, holding and outcome

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Parties

China Civil Engineering Construction Corporation

Plaintiff

National Insurance Corporation Limited

1st Defendant

Parastatal Sector Reform Commission

2nd Defendant

Procedural Posture

Commercial Case / Judgment

Legal Issues

  1. 1 Whether the defendants are liable to pay the outstanding contractual sum to the plaintiff
  2. 2 Whether the plaintiff is entitled to interest on the outstanding amount
  3. 3 Whether the defendants are entitled to pay by instalments or to a waiver of interest

Ratio Decidendi

The plaintiff is entitled to the claimed sum on admission, with interest at the current commercial rate from when the debt fell due to judgment, and thereafter at 7% until full satisfaction, as the delay in payment was unjustified and the defendants' financial difficulties were not supported by pleadings or conduct.

Court Disposition

judgment for the plaintiff

Orders

  • Defendants to pay T.shs 84,281,461.32 to the plaintiff jointly and severally
  • Interest at current commercial rate from date debt fell due to date of judgment