eco bank tanzania ltd vs gogogo savings and credit co operative and others 2020 tzhccomd 16 24 march 2020

eco bank tanzania ltd vs gogogo savings and credit co operative and others 2020 tzhccomd 16 24 march 2020

The Defendants, through fraudulent misrepresentation and breach of contract, caused the Plaintiff's loss by facilitating a loan secured by a void mortgage. The Plaintiff relied on the Defendants' representations, establishing a causal link to the loss. All Defendants are jointly and severally liable for the...

Source-derived case information.

Citation
eco bank tanzania ltd vs gogogo savings and credit co operative and others 2020 tzhccomd 16 24 march 2020
Parties
Plaintiff: ECO BANK TANZANIA LTD; 1st Defendant: GOGOGO SAVINGS & CREDIT CO-OPERATIVE SOCIETY LTD; 2nd Defendant: VEDASTO KIGWA; 3rd Defendant: SELEMAN SANDAR; 4th Defendant: MWANAMVUA KASIMU; 5th Defendant: BLACKSON I BONABI; 6th Defendant: NASUHI A. BYEMELWA; 7th Defendant: VORISTER A. KULWA; 8th Defendant: KIPANGA S. MBEGA; 9th Defendant: PAULINA A. NKOMA; 10th Defendant: RASHID MAVUNDE; 11th Defendant: EDSON R. KAMKURU; 12th Defendant: MWANAISHA MAKATA; 13th Defendant: SHENUU MBARUKU ADBDALLAH
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
24 March 2020
Procedural Posture
Commercial Case / Ex Parte Judgment
Outcome
judgment for the plaintiff
Legal Topics
Loan Default, Fraud, Mortgage, Personal Liability of Directors, Damages, Interest on Judgment Debt
Source Language
english
Banking Law Contract Law Tort Law Loan Default Fraud Mortgage Personal Liability of Directors Damages +1 more

Source-derived case record

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 4 Authorities cited 3 Party arguments 2 Amounts and remedies 4
Sign in to unlock

Parties

ECO BANK TANZANIA LTD

Plaintiff

GOGOGO SAVINGS & CREDIT CO-OPERATIVE SOCIETY LTD

1st Defendant

VEDASTO KIGWA

2nd Defendant

SELEMAN SANDAR

3rd Defendant

MWANAMVUA KASIMU

4th Defendant

BLACKSON I BONABI

5th Defendant

NASUHI A. BYEMELWA

6th Defendant

VORISTER A. KULWA

7th Defendant

KIPANGA S. MBEGA

8th Defendant

PAULINA A. NKOMA

9th Defendant

RASHID MAVUNDE

10th Defendant

EDSON R. KAMKURU

11th Defendant

MWANAISHA MAKATA

12th Defendant

SHENUU MBARUKU ADBDALLAH

13th Defendant

Procedural Posture

Commercial Case / Ex Parte Judgment

Legal Issues

  1. 1 Whether the Defendants are jointly and severally liable for the outstanding amount of TZS 252,404,774.8
  2. 2 Whether the Plaintiff is entitled to the reliefs sought

Ratio Decidendi

The Defendants, through fraudulent misrepresentation and breach of contract, caused the Plaintiff's loss by facilitating a loan secured by a void mortgage. The Plaintiff relied on the Defendants' representations, establishing a causal link to the loss. All Defendants are jointly and severally liable for the outstanding loan, interest, general damages, and costs.

Court Disposition

judgment for the plaintiff

Orders

  • Defendants jointly and severally to pay Plaintiff TZS 252,404,774.8 as outstanding loan as of 31 December 2015
  • Plaintiff entitled to default interest at 2% per month from 31 December 2015 to date of judgment