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The High Court held that the 1st and 2nd defendants breached a contract to return a title deed after one year, while the bank could retain it as security.
The Court found that the SBLC/LC was issued by Equity Bank Kenya Limited as required, the loan was disbursed to all three respondents, and the respondents defaulted on their obligations, triggering the bank's liability. The High Court erred in its findings regarding the non-issuance of the SBLC/LC, the non-disbursement of the loan, the award of general damages, and the interpretation of the Land Act. The appellants' counterclaim was proved and should be allowed.
Source excerpt
After repaying a secured loan, the plaintiff sought return of his title deed. The court found the bank’s delay was linked to a lost deed, awarded general damages, and ordered release of a duplicate title.
The defendant admitted and signed the loan agreements, and is bound by their terms. The correct security for the loans was two properties, not Plot No. P5 Makorongoni. The outstanding amount is to be offset against FDRs, with interest calculated from consolidation date. General damages were not proved.
Source excerpt
The High Court enforced a bank guarantee against an individual guarantor, holding the bank could sue him independently and had validly served a demand notice.
The High Court allowed a land appeal, set aside the tribunal judgment, and held that the appellant had repaid the debt in full.
Commercial loan dispute over Tshs 100 million, contractual interest, and alleged mortgage security. Court awarded principal and interest, but refused sale of the land.
The Court of Appeal held that CRDB Bank could retain security documents because of personal guarantees tied to an outstanding loan, and set aside damages for loss of business opportunity.
The High Court held the defendants breached an advance payment guarantee and ordered repayment, interest, and costs, but refused general damages.
The High Court held that the borrowers defaulted under a loan and overdraft agreement, so the bank could charge contractual interest and penal interest.
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