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Tanzania decisions
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The plaintiff failed to prove breach of contract or procedural impropriety in the disposal of the secured assets. The loan agreement and its variations were valid, the plaintiff defaulted, and the defendant followed the contractual and legal procedures for recovery. No counterclaim was properly pleaded or adjudicated. The suit is dismissed with costs.
Source excerpt
The High Court dismissed the appeal and upheld judgment for CRDB Bank PLC on a defaulted loan, holding the appellants were bound by the loan agreement.
High Court of Tanzania held the defendants failed to issue the required SBLC/LC, making the related securities unenforceable and dismissing the counterclaims.
The High Court dismissed Michael Ngareku Shirima’s suit and allowed ABC Bank’s counterclaim, holding the TBL shares secured Rombo Millers’ loans and remained enforceable.
The High Court held the bank unlawfully impounded buses without court order, but the borrower also breached the loan. The loan debt was offset against the buses and costs were each party's own.
The High Court dismissed a civil appeal as time-barred, finding no extension of time had been sought or granted. It also set aside the trial court’s damages order.
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