standard chartered bank t ltd vs haruna yusuf mavere ta gh hardware 2023 tzhccomd 283 15 june 2023
The Defendant defaulted on the loan facilities as admitted and evidenced by the Plaintiff. The voiding of the mortgage in a separate land case rendered the loans unsecured but did not extinguish the repayment obligation. The facility agreement provided for contractual and penal interest in case of default. The Plaintiff proved its case on a balance of probabilities and is entitled to the claimed sums, interest, and costs.
Source excerpt
- Loan default
- Breach of contract
- Interest on loans
- Unsecured loans
- Mortgage validity