crdb bank plc vs mohamed said sinani sons ltd 2 others 2023 tzhccomd 90 29 march 2023
The plaintiff advanced and restructured credit facilities to the 1st defendant, which were guaranteed by the 2nd and 3rd defendants. The defendants breached the terms by failing to repay the loan as agreed. The outstanding amount of TZS 614,946,043.43 remains due, and writing off the debt does not discharge the defendants' liability.
Source excerpt
- Loan agreements
- Debt recovery
- Guarantee and indemnity
- Breach of contract
- Restructuring of credit facilities