international commercial bank t ltd vs mbezi fresh market limited 2 others 2022 tzhccomd 74 6 april 2022

The parties have lawfully settled their dispute by filing a deed of settlement, which the court registers as the consent judgment and decree, thereby resolving the suit on the agreed terms.

Citation: international commercial bank t ltd vs mbezi fresh market limited 2 others 2022 tzhccomd 74 6 april 2022
Parties: Plaintiff: International Commercial Bank (T) Ltd; 1st Defendant: Mbezi Fresh Market Limited; 2nd Defendant: Khalifa Salum Ally; 3rd Defendant: Fridaus Ismail Khamis
Court: TZHCCOMD
Jurisdiction: Tanzania
Judgment Date: 6 April 2022
Procedural Posture: Commercial Case / Consent Judgment After Deed of Settlement
Outcome: suit settled by consent judgment
Legal Topics: Overdraft Facility, Debt Recovery, Consent Judgment, Settlement
Source Language: English

Commercial Law Banking Law Overdraft Facility Debt Recovery Consent Judgment Settlement

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Parties

International Commercial Bank (T) Ltd

Plaintiff

Mbezi Fresh Market Limited

1st Defendant

Khalifa Salum Ally

2nd Defendant

Fridaus Ismail Khamis

3rd Defendant

Procedural Posture

Commercial Case / Consent Judgment After Deed of Settlement

Legal Issues

1 Whether the defendants are liable to pay the outstanding overdraft amount to the plaintiff
2 Whether the parties have validly settled the dispute through a deed of settlement

Ratio Decidendi

The parties have lawfully settled their dispute by filing a deed of settlement, which the court registers as the consent judgment and decree, thereby resolving the suit on the agreed terms.

Court Disposition

suit settled by consent judgment

Orders

Deed of Settlement filed on 29th March 2022 is registered as the judgment and decree of the court
Suit marked as settled on compromise of the parties as per the Deed of Settlement