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Tanzania decisions
Decisions matching the current search
The Court of Appeal set aside a High Court judgment after finding the trial judge wrongly ignored an admitted exhibit without hearing the parties.
Court of Appeal of Tanzania held that JRT and its guarantor remained liable on a secured loan, but KCBL must account for seized but unsold assets.
The High Court recorded a deed of settlement in a commercial dispute over a breached credit facility, and marked the matter settled by consent judgment.
The respondent was contractually entitled to consolidate securities and combine accounts under clause 7(c) of both facilities. The appellant, being both borrower and guarantor, could not claim breach or violation of section 92 of the Law of Contract Act. The respondent's actions were justified both by contract and by the general law of banking practice.
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The court found the bank failed to prove full disbursement of claimed facilities, awarded only the admitted balance of Tshs.750,903,881.94, and ordered discharge of securities.
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 claim for TZS 200,000,000.00 was time barred as the cause of action accrued on 24/4/2001 and the suit was filed after the 6-year limitation period; the USD 600,000.00 facility was fully serviced by the appellants and not outstanding; the trial court erred in awarding the respondent the full claimed amount and interest.
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The claim for TZS 200,000,000.00 was time barred as the cause of action accrued on 24/4/2001 and the suit was filed on 13/6/2007, exceeding the six-year limitation period. The USD 600,000.00 facility was fully serviced by the appellants, as evidenced by the respondent's own witness. The trial court erred in holding the appellants liable for both facilities and awarding the full claim.
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The High Court granted leave to defend a summary suit after finding triable issues over loan discharge, facility utilization, guarantees, and joinder.
The High Court held a loan agreement void for lack of proof that the lender was licensed to advance loans and charge interest, and dismissed the suit.
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