standard chatered bank t ltd vs testa ltd and others 2020 tzhccomd 58 12 may 2020

standard chatered bank t ltd vs testa ltd and others 2020 tzhccomd 58 12 may 2020

The plaintiff proved its claim to the required legal standard, and the 1st and 3rd defendants failed to file a defence. Default judgment is entered against them for the outstanding loan amount, interest, and costs.

Citation
standard chatered bank t ltd vs testa ltd and others 2020 tzhccomd 58 12 may 2020
Parties
Plaintiff/applicant: Standard Chartered Bank Tanzania Limited; 1st Defendant/respondent: Testa Limited; 2nd Defendant/respondent: John John M Nyika; 3rd Defendant/respondent: Lazaro Obadia Mtani
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
12 May 2020
Procedural Posture
Commercial Case / Default Judgment
Outcome
default judgment entered against 1st and 3rd defendants jointly and severally
Legal Topics
Loan Default, Credit Facility, Mortgage, Personal Guarantee, Default Judgment
Source Language
English
Banking Contract Commercial Law Loan Default Credit Facility Mortgage Personal Guarantee Default Judgment

Case Brief

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Parties

Standard Chartered Bank Tanzania Limited

Plaintiff/applicant

Testa Limited

1st Defendant/respondent

John John M Nyika

2nd Defendant/respondent

Lazaro Obadia Mtani

3rd Defendant/respondent

Procedural Posture

Commercial Case / Default Judgment

Legal Issues

  1. 1 Whether the 1st and 3rd defendants defaulted on repayment of the credit facility
  2. 2 Whether the plaintiff is entitled to the outstanding amount, interest, and costs

Ratio Decidendi

The plaintiff proved its claim to the required legal standard, and the 1st and 3rd defendants failed to file a defence. Default judgment is entered against them for the outstanding loan amount, interest, and costs.

Court Disposition

default judgment entered against 1st and 3rd defendants jointly and severally

Orders

  • 1st and 3rd defendants to pay TZS 259,964,990.98 to plaintiff
  • 1st and 3rd defendants to pay interest at 23% from 22 January 2019 to date of judgment