joyce ilembo vs peter kayingi gongo and 2 others 2021 tzhc 6319 29 september 2021

joyce ilembo vs peter kayingi gongo and 2 others 2021 tzhc 6319 29 september 2021

The parties' consent to a structured repayment plan, forfeiture of late fees, and enforcement of mortgage security forms a binding settlement, enforceable as a court decree, resolving all claims in the suit.

Citation
joyce ilembo vs peter kayingi gongo and 2 others 2021 tzhc 6319 29 september 2021
Parties
Plaintiff: Joyce Ilembo; 1st Defendant: Peter Kayingi Gongo; 2nd Defendant: Cyril Michael Wariro; 3rd Defendant: Letshego Bank (T) Limited
Court
TZHC
Jurisdiction
Tanzania
Judgment Date
29 September 2021
Procedural Posture
Land Case / Consent Settlement Order at Mediation
Outcome
Suit settled by consent; settlement order recorded as decree.
Legal Topics
Loan Restructuring, Mortgage Enforcement, Settlement Agreement
Source Language
English
Land Law Banking Law Contract Law Loan Restructuring Mortgage Enforcement Settlement Agreement

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Parties

Joyce Ilembo

Plaintiff

Peter Kayingi Gongo

1st Defendant

Cyril Michael Wariro

2nd Defendant

Letshego Bank (T) Limited

3rd Defendant

Procedural Posture

Land Case / Consent Settlement Order at Mediation

Legal Issues

  1. 1 Outstanding loan repayment and restructuring
  2. 2 Enforcement of mortgage security
  3. 3 Settlement of all claims between parties

Ratio Decidendi

The parties' consent to a structured repayment plan, forfeiture of late fees, and enforcement of mortgage security forms a binding settlement, enforceable as a court decree, resolving all claims in the suit.

Court Disposition

Suit settled by consent; settlement order recorded as decree.

Orders

  • 1st defendant to pay Tshs. 59,752,440.30 as outstanding loan balance.
  • 1st defendant to pay monthly installments of Tshs. 200,000.00 and annual installments of Tshs. 10,000,000.00 until full repayment.