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Leave of court is not required to sue Deposit Insurance Board for debts accrued after the receiving date, as such debts are not provable under the liquidation process and are attributable to DIB's own business, not Efatha Bank Ltd under liquidation.
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The applicant, as title holder under the financial lease, is entitled to repossess the seven buses from the respondent due to expiry and breach of the lease agreement, non-exercise of the purchase option, and failure to surrender the equipment after due notice. The respondent's arguments of full payment and co-ownership are legally misconceived; title and ownership are distinct, and the buses are subject to the lease. The application is not an execution of a prior decree but an independent statutory remedy under the Financial Leasing Act.
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The existence of an arbitration clause in the lease agreement obliges the court to refer the parties to arbitration, thus the court lacks jurisdiction to entertain the matter.
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The Court of Appeal upheld dismissal of an application to set aside an ex parte judgment, finding no sufficient cause for the appellants’ failure to file a defence.
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