Balyejusa v Letshego Uganda Limited (LUL) (Civil Suit 652 of 2020)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court held that the plaintiff failed to prove her claims of breach of the loan agreement by the defendant lender. The plaintiff's allegations of irregular deductions, failure to insure one vehicle, failure to conduct valuations, and irregular sale of securities were all rejected. The defendant succeeded on its counterclaim, with the court finding that the plaintiff breached the loan agreement by defaulting on repayment. The plaintiff was ordered to pay the outstanding loan sum of UGX 21,989,746 plus accrued default interest at 6% per month as provided in the loan agreement.
Outcome
Plaintiff's suit dismissed; Defendant's counterclaim for outstanding loan balance granted with accrued contractual default interest
Facts
On 8 June 2017, the plaintiff entered into a loan agreement with the defendant for UGX 30,000,000, secured by two motor vehicles (UAY 318Q and UAR 005J) and land at Masanafu. UGX 18,291,045 was disbursed after deductions for paying off an existing FINCA loan (UGX 6,240,900), insurance for one vehicle (UGX 2,710,355), loan processing fees (UGX 800,000), and caveat expenses. The plaintiff alleged the defendant breached the agreement by disbursing a lesser sum, failing to insure vehicle UAR 005J, failing to conduct proper valuations, refusing to lodge insurance claims after multiple accidents involving the vehicles, and irregularly selling her securities without proper notice. The defendant counterclaimed that the plaintiff defaulted on loan repayment. The plaintiff made her last payment on 20 May 2019, leaving an outstanding balance that accumulated to UGX 21,989,746. The plaintiff sold vehicle UAR 005J herself to one Mayanja Twaha. Vehicle UAY 318Q was sold to satisfy a small claims court judgment in favour of Kiggundu David. The plaintiff also sold the mortgaged land together with the original owner to raise funds to repay the loan.
Issues
- Whether there was a breach of the Loan Agreement dated 08/06/2017, and if so, by whom?
- What remedies are available to the parties?
Orders
- The Plaintiff's suit is dismissed.
- The Defendant's Counterclaim succeeds.
- The Plaintiff/Counter-Defendant is ordered to pay the Defendant/Counterclaimant the outstanding sum of UGX 21,989,746.
- The Plaintiff/Counter-Defendant is ordered to pay accrued interest at the rate of 6% per month as provided in the loan agreement from the date of default until payment in full.
- General damages are not awarded to the Defendant/Counterclaimant.
- Interest on damages from the date of judgment until payment in full is not awarded.
- Costs of the suit are awarded to the Defendant/Counterclaimant.
Rules and key headnotes
Legislation cited (8)
- Contracts Act s.33(1)
- Contracts Act s.61(1)
- Tier 4 Microfinance Institutions and Money Lenders Act 2016 s.85
- Microfinance Institutions and Money Lenders (Money Lenders) Regulations 2018 Regulation 18(5)
- Evidence Act Cap 6 s.7
- Stamps Act 2014 s.32
- Stamps Act 2014 s.33
- Civil Procedure Act s.27(2)
Cases cited (3)
- Wambewo Simon v Mazelele Silvester (High Court Miscellaneous Application No. 128 of 2013)
- Barclays Bank of Uganda Ltd v Bakojja (Civil Suit No. 53 of 2011)
- James Fredrick Nsubuga v Attorney General (Civil Suit No. 13 of 1993)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.