Indo-Zambia Bank v Fucho Transport and Another (HPC 214 of 2015) [2016] ZMHC 101 (5 May 2016)
The application to amend the judgment is granted as the error is admitted by both parties. The judgment sum is corrected to K941,065.76. Respondents are granted six months to pay the outstanding balance, failing which the Applicant may exercise its power of sale over the mortgaged property.
Source-derived case information.
- Citation
- [2016] ZMHC 101
- Parties
- Applicant: Indo-Zambia Bank Limited; 1st Respondent: Fucio Transport Limited; 2nd Respondent: Chola Mataka
- Court
- High Court of Zambia
- Jurisdiction
- Zambia
- Case Number
- HPC 214 of 2015
- Procedural Posture
- Civil / Ruling on Application to Amend Judgment
- Outcome
- Application to amend judgment granted. Respondents granted six months to pay outstanding balance. Costs to Applicant.
- Legal Topics
- Amendment of Judgment, Mortgage Enforcement, Power of Sale
- Source Language
- en
Source-derived case record
Summary, issues, holding and outcome
More case intelligence is available
Unlock the full research layer for this judgment.
Parties
Indo-Zambia Bank Limited
Applicant
Fucio Transport Limited
1st Respondent
Chola Mataka
2nd Respondent
Procedural Posture
Civil / Ruling on Application to Amend Judgment
Legal Issues
- 1 Whether the judgment sum should be corrected from K83,000.00 to K941,065.76
- 2 Whether the Respondents should be granted more time to liquidate the outstanding judgment debt
Ratio Decidendi
The application to amend the judgment is granted as the error is admitted by both parties. The judgment sum is corrected to K941,065.76. Respondents are granted six months to pay the outstanding balance, failing which the Applicant may exercise its power of sale over the mortgaged property.
Court Disposition
Application to amend judgment granted. Respondents granted six months to pay outstanding balance. Costs to Applicant.
Orders
- Judgment sum amended to K941,065.76.
- Respondents to pay outstanding balance within six months from date of ruling.
Full Case Text
Judgment text and source record
1 paragraphs
IN THE HIGH COURT FOR ZAMBIA AT THE COMMERCIAL REGISTRY HOLDEN AT LUSAKA (Civil Jurisdiction) 2015/HPC/0214 In the matter of: An application known Applicant comprised February Respondents for delivery of possession as Lot No. 25567/M Central as Legal Mortgagee pursuant in the 2014 made 3rd Party Mortgage Deed the Applicant between Province of the property to the to a power of sale 7th the dated and BETWEEN: INDO-ZAMBIA BANK LIMITED AND FUCIIO TRANSPORT LIMITED CHOLA MATAKA APPLICANT 1" RESPOi\DENT 2'" RESPONDENT BEFORE HaN. MADAM JUSTICE PRISCA MATIMBA NYAMBE, SC AT LUSAKA IN CHAMBERS For the Applicant: For the Respondents: Mr. Matiya Ndhlovu Messrs M R N Legal Practirioners Mr. Chola Mataka In Person RULING 1. Order 20 Rule 11 of the Rules of the Supreme Court of England 1999 Edition This is an application brought by the Plaintiff to amend the Judgment of the Court delivered on 7''' December 2015, made Pursuant to Order 20 Rule 11 of the Rules of the Supreme Court of England 1999 Edition. The application was supported by an affidavit together with skeleton arguments of even date. In sum the Plaintiff was asking the Court to correct the figure in the Judgment sum ofK83,000.00 and replace it with the figure ofK941,065.76. 1 note that the Respondent admits the error made in the Judgment of 7''' December 2015. To that extent the application to amend the Judgment is granted. In paragraph 1 of the Judgment the amount due and owing shall be reflected as K941,065.76. The Respondents also submitted that they have reduced the Judgment Debt since the Judgment of 7''' December 2015 and requested the Court to grant them more time within which to liquidate the outstanding balance. 1 have therefore noted the efforts made by the Respondents to reduce the amount owing. 1 consider it appropriate to exceptionally grant the Respondents more time within which to liquidate the outstanding balance. In this regard the Respondents shall be at liberty to pay the outstanding balance of the Judgment Debt within six (06) months from the date of this Ruling. In default the Applicant shall be at liberty to exercise its power of sale of the Mortgaged Property. R2 . . - Costs are awarded to the Applicant, to be taxed in default of agreement. Dated this .•.•;5.~daY of rYl~ 2016 Prisca M. Nyambe, SC JUDGE R3