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Plaintiff established existence of loan agreement and defendant's default; evidence and pleadings proved claims on balance of probabilities, entitling plaintiff to all reliefs sought.
Source excerpt
The High Court held that the bank proved a USD 8.5 million term loan, the defendants defaulted, and all defendants were jointly and severally liable for the debt, interest, and costs.
The High Court entered summary judgment for the bank after the defendants failed to obtain leave to defend a summary suit over an overdraft facility and guarantee.
The High Court granted summary judgment to National Bank of Commerce Limited after the defendants’ defence application was struck out as incompetent.
Default judgment in a commercial loan suit. The High Court held that substituted service was sufficient and ordered the defendants to pay the outstanding USD 46,763.40 plus interest and costs.
The High Court held that the insurer breached an unconditional guarantee for airline ticket credit after the third party defaulted, and ordered payment with 7% interest.
The High Court at Mbeya entered ex parte judgment for the bank after proof of an unpaid overdraft facility secured by mortgage and chattel mortgage.
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