n j investment ltd vs international commercial bank tanzania ltd another 2023 tzhclandd 16416 28 april 2023

n j investment ltd vs international commercial bank tanzania ltd another 2023 tzhclandd 16416 28 april 2023

The applicant failed to establish all three conditions required for a temporary injunction, particularly irreparable injury and balance of convenience, as the bank stands to suffer more loss if restrained from recovering the outstanding loan. Thus, the application for a temporary injunction is dismissed.

Citation
n j investment ltd vs international commercial bank tanzania ltd another 2023 tzhclandd 16416 28 april 2023
Parties
Applicant: N & J Investment Ltd; 1st Respondent: International Commercial Bank (Tanzania) Ltd; 2nd Respondent: Mbuzax Auction Mart Ltd
Court
TANZLII
Jurisdiction
Tanzania
Judgment Date
28 April 2023
Procedural Posture
Miscellaneous Land Application / Ruling on Application for Temporary Injunction Pending Main Suit
Outcome
Application dismissed
Legal Topics
Temporary Injunctions, Loan Recovery, Mortgage Disputes
Source Language
English
Civil Procedure Land Law Banking Law Temporary Injunctions Loan Recovery Mortgage Disputes

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Parties

N & J Investment Ltd

Applicant

International Commercial Bank (Tanzania) Ltd

1st Respondent

Mbuzax Auction Mart Ltd

2nd Respondent

Procedural Posture

Miscellaneous Land Application / Ruling on Application for Temporary Injunction Pending Main Suit

Legal Issues

  1. 1 Whether the applicant is entitled to a temporary injunction restraining the respondents from disposing of or interfering with the mortgaged properties pending determination of the main suit

Ratio Decidendi

The applicant failed to establish all three conditions required for a temporary injunction, particularly irreparable injury and balance of convenience, as the bank stands to suffer more loss if restrained from recovering the outstanding loan. Thus, the application for a temporary injunction is dismissed.

Court Disposition

Application dismissed

Orders

  • Application for temporary injunction is dismissed
  • Costs to follow the event