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The court adopted the deed of settlement as a consent judgment, ordering payment of TZS 1,477,070,000/= by plaintiffs to defendant, release of mortgaged properties upon payment, and waiver of further claims or appeals by all parties.
Source excerpt
The High Court Commercial Division recorded a Deed of Settlement as a consent judgment, marking the bank’s suit against the defendants as compromised.
Default judgment in a commercial loan dispute after the 1st defendant failed to file a defence despite substituted service.
The High Court held that the 1st defendant defaulted on a credit facility, upheld the bank’s sale of secured vehicles under the debenture, and dismissed the counterclaim.
The High Court held that the loan and overdraft facilities were validly executed, the defendants defaulted, and the mortgage and guarantees were proved.
Commercial case resolved by consent: the court adopted a Deed of Settlement and recorded the suit as settled by compromise.
The High Court held that the borrower breached an overdraft agreement and the guarantors breached their guarantees. Judgment was entered for the bank with interest and costs.
The High Court granted summary judgment in a commercial banking claim after the defendants failed to appear or defend despite substituted service.
The High Court of Tanzania entered judgment for KCB Bank Tanzania Ltd in an ex-parte loan recovery suit and granted the claimed debt, interest, and costs.
The High Court Commercial Division entered default judgment against the 1st and 3rd defendants for an unpaid bank loan, interest, and costs.
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