stanbic bank t ltd vs yemen enterprises ltd 2 others 2012 tzhccomd 7 21 november 2012

stanbic bank t ltd vs yemen enterprises ltd 2 others 2012 tzhccomd 7 21 november 2012

The plaintiff failed to prove on the balance of probabilities that the defendants remained indebted after the settlement and release of securities. Contradictions in the plaintiff's claims and lack of clear evidence on the outstanding amount led the court to find in favour of the defendants.

Citation
stanbic bank t ltd vs yemen enterprises ltd 2 others 2012 tzhccomd 7 21 november 2012
Parties
Plaintiff: Stanbic Bank (T) Limited; 1st Defendant: Yemen Enterprises Limited; 2nd Defendant: Agil Islam Lahmad; 3rd Defendant: Hamid Islam Lahmad
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
21 November 2012
Procedural Posture
Commercial Case / Judgment
Outcome
suit dismissed with costs
Legal Topics
Loan Facilities, Guarantee, Mortgage, Burden of Proof, Settlement Agreement, Discharge of Security
Source Language
English
Banking Law Contract Law Evidence Law Loan Facilities Guarantee Mortgage Burden of Proof Settlement Agreement +1 more

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Parties

Stanbic Bank (T) Limited

Plaintiff

Yemen Enterprises Limited

1st Defendant

Agil Islam Lahmad

2nd Defendant

Hamid Islam Lahmad

3rd Defendant

Procedural Posture

Commercial Case / Judgment

Legal Issues

  1. 1 Whether the defendants are still indebted to the plaintiff
  2. 2 If so, to what extent are the defendants indebted to the plaintiff
  3. 3 To what reliefs are parties entitled

Ratio Decidendi

The plaintiff failed to prove on the balance of probabilities that the defendants remained indebted after the settlement and release of securities. Contradictions in the plaintiff's claims and lack of clear evidence on the outstanding amount led the court to find in favour of the defendants.

Court Disposition

suit dismissed with costs

Orders

  • Suit dismissed in favour of the defendants with costs.