NSAGALI CO LTD VS CRDB BANK CITY GROUP LTD KISESA EXPRESS LTD

NSAGALI CO LTD VS CRDB BANK CITY GROUP LTD KISESA EXPRESS LTD

The court found that both parties have a serious dispute regarding the loan agreement and sale of the property, and that preserving the property pending the main suit is necessary to prevent irreparable loss to the applicants and to protect the interests of both parties.

Source-derived case information.

Citation
NSAGALI CO LTD VS CRDB BANK CITY GROUP LTD KISESA EXPRESS LTD
Parties
Applicant: NSAGALI CO. LTD; Applicant: Second Applicant; Respondent: CRDB BANK; Respondent: Second Respondent; Respondent: Third Respondent
Court
TANZLII
Jurisdiction
Tanzania
Judgment Date
14 August 2019
Procedural Posture
Miscellaneous Civil Application / Ruling on Application for Temporary Injunction
Outcome
Application granted
Legal Topics
Temporary Injunction, Loan Agreement, Breach of Contract, Disposition of Secured Property
Source Language
english
Civil Procedure Commercial Law Temporary Injunction Loan Agreement Breach of Contract Disposition of Secured Property

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Parties

NSAGALI CO. LTD

Applicant

Second Applicant

Applicant

CRDB BANK

Respondent

Second Respondent

Respondent

Third Respondent

Respondent

Procedural Posture

Miscellaneous Civil Application / Ruling on Application for Temporary Injunction

Legal Issues

  1. 1 Whether it was proper for the respondents to sell the suit property while the loan agreement was being executed
  2. 2 Whether the sale of the property was lawful without issuance of a default notice
  3. 3 Whether the applicants are entitled to a temporary injunction to preserve the property pending the main suit

Ratio Decidendi

The court found that both parties have a serious dispute regarding the loan agreement and sale of the property, and that preserving the property pending the main suit is necessary to prevent irreparable loss to the applicants and to protect the interests of both parties.

Court Disposition

Application granted

Orders

  • Second applicant shall not be evicted from the suit property pending determination of the main suit
  • No further disposition of the suit property shall occur until the main suit is fully determined