ukod international co ltd vs stanbic bank tanzania ltd another 2023 tzhccomd 81 22 march 2023

ukod international co ltd vs stanbic bank tanzania ltd another 2023 tzhccomd 81 22 march 2023

Attachment of all listed vehicles was lifted because there was no evidence that the value of attached properties did not exceed the decree amount plus 5% as required by Rule 23(1) of the Court Brokers Rules, and no court leave was obtained to attach properties without prior valuation.

Citation
ukod international co ltd vs stanbic bank tanzania ltd another 2023 tzhccomd 81 22 march 2023
Parties
Applicant: UKOD International Co Ltd; 1st Respondent: Stanbic Bank Tanzania Limited; 2nd Respondent: Jesca W. L. Massawe t/a D Auction Mart Limited
Court
TZHCCOMD
Jurisdiction
Tanzania
Judgment Date
22 March 2023
Procedural Posture
Miscellaneous Commercial Application / Ruling on Application to Lift Attachment Orders in Execution Proceedings
Outcome
Application to lift attachment orders on vehicles granted; prohibitory orders on immovable properties remain in force.
Legal Topics
Execution of Decrees, Attachment of Property, Injunctions, Court Broker Rules
Source Language
English
Civil Procedure Commercial Law Execution of Decrees Attachment of Property Injunctions Court Broker Rules

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Parties

UKOD International Co Ltd

Applicant

Stanbic Bank Tanzania Limited

1st Respondent

Jesca W. L. Massawe t/a D Auction Mart Limited

2nd Respondent

Procedural Posture

Miscellaneous Commercial Application / Ruling on Application to Lift Attachment Orders in Execution Proceedings

Legal Issues

  1. 1 Whether the attachment of applicant's vehicles exceeded the permissible value under Rule 23(1) of the Court Brokers Rules, 2017
  2. 2 Whether the court can grant an injunction against execution of its own decree
  3. 3 Whether due process was followed in valuing attached properties

Ratio Decidendi

Attachment of all listed vehicles was lifted because there was no evidence that the value of attached properties did not exceed the decree amount plus 5% as required by Rule 23(1) of the Court Brokers Rules, and no court leave was obtained to attach properties without prior valuation.

Court Disposition

Application to lift attachment orders on vehicles granted; prohibitory orders on immovable properties remain in force.

Orders

  • Warrant of attachment on all listed vehicles lifted.
  • Prohibitory orders on all listed immovable properties to remain in force.