nuta press limited vs tib development bank limited liquidators of tanzania housing bank 5 others 2023 tzhclandd 16818 22 august 2023

nuta press limited vs tib development bank limited liquidators of tanzania housing bank 5 others 2023 tzhclandd 16818 22 august 2023

The plaintiff defaulted on the loan secured by a mortgage; the mortgagee lawfully exercised its power of sale after due notice and absence of fraud or collusion. The auction was valid, and the 3rd defendant is a bona fide purchaser. The plaintiff failed to prove irregularities or fraud. The outstanding loan amount...

Source-derived case information.

Citation
nuta press limited vs tib development bank limited liquidators of tanzania housing bank 5 others 2023 tzhclandd 16818 22 august 2023
Parties
Plaintiff: NUTA Press Limited; 1st Defendant: TIB Development Bank Limited (Liquidators of Tanzania Housing Bank); 2nd Defendant: The Attorney General; 3rd Defendant: Mac Group Limited (successors in title of Mac Holding Limited); 4th Defendant: Foma Industries Limited; 5th Defendant: Tanzania Auction Mart & Court Brokers Co. Ltd; 6th Defendant: The Registrar of Titles
Court
TANZLII
Jurisdiction
Tanzania
Judgment Date
22 August 2023
Procedural Posture
Land Case / Judgment After Remittal From Court of Appeal
Outcome
Plaintiff's suit dismissed with costs; counter-claim partly allowed with costs.
Legal Topics
Mortgage Enforcement, Loan Default, Public Auction, Bona Fide Purchaser, Counter Claim, Burden of Proof
Source Language
english
Land Law Banking Law Contract Law Mortgage Enforcement Loan Default Public Auction Bona Fide Purchaser Counter Claim +1 more

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Parties

NUTA Press Limited

Plaintiff

TIB Development Bank Limited (Liquidators of Tanzania Housing Bank)

1st Defendant

The Attorney General

2nd Defendant

Mac Group Limited (successors in title of Mac Holding Limited)

3rd Defendant

Foma Industries Limited

4th Defendant

Tanzania Auction Mart & Court Brokers Co. Ltd

5th Defendant

The Registrar of Titles

6th Defendant

Procedural Posture

Land Case / Judgment After Remittal From Court of Appeal

Legal Issues

  1. 1 What was the outstanding amount of the loan granted to the plaintiff by the 3rd defendant by December 1993?
  2. 2 Whether the lease agreement dated 1st April 1994 was lawfully executed?
  3. 3 Whether there was a lawfully conducted public auction on the suit property?

Ratio Decidendi

The plaintiff defaulted on the loan secured by a mortgage; the mortgagee lawfully exercised its power of sale after due notice and absence of fraud or collusion. The auction was valid, and the 3rd defendant is a bona fide purchaser. The plaintiff failed to prove irregularities or fraud. The outstanding loan amount due to the 3rd defendant was TZS 6,408,461.50, not the higher amount claimed.

Court Disposition

Plaintiff's suit dismissed with costs; counter-claim partly allowed with costs.

Orders

  • Plaintiff's suit is dismissed for want of merit with costs.
  • Plaintiff to pay the 3rd defendant TZS 6,408,461.50 as the outstanding loan balance.