Barclays Bank Limited v Electro Watts (Uganda ) Limited (Miscellaneous Application No. 722 of 2020)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Court granted conditional stay of execution of parts of judgment in underlying suit (general damages, interest, and costs) pending appeal. Applicant satisfied some but not all prerequisites for stay: Notice of Appeal was timely filed, applicant offered security for decree performance, and execution was potentially imminent. However, applicant failed to demonstrate substantial loss or likelihood of appeal success. Stay granted on condition that applicant furnish bank guarantee for judgment sum and cash deposit for costs within 30 days, failing which the application would be dismissed.
Outcome
Stay of execution conditionally granted, subject to provision of security within 30 days
Facts
Barclays Bank Limited and a co-defendant (Wasswa Abdul) were ordered by the Commercial Court in HCCS 139 of 2016 to jointly and severally pay Electro Watts Uganda Limited general damages of UGX 113,016,750, interest at 6% per annum until payment in full, and costs of the suit. Barclays Bank filed a Notice of Appeal on 20 March 2020, fourteen days after judgment was delivered on 6 March 2020. The bank sought stay of execution of the judgment pending the appeal, offering to furnish security in the form of a bank guarantee. The intended appeal was against the general damages awarded, interest thereon, and costs. Barclays argued it would suffer substantial loss due to reduced liquidity and lost interest earnings if required to pay out the sum pending appeal. The respondent opposed, arguing that no grounds of appeal had been formulated despite the bank having the judgment, and that the bank had not shown inability to recover the money if the decree was executed and the appeal succeeded.
Issues
- Whether the applicant satisfied the prerequisites for grant of stay of execution pending appeal under Order 43 rule 4 CPR
- Whether the applicant demonstrated that substantial loss would result if stay of execution is not granted
- Whether the intended appeal has a likelihood of success
Orders
- Stay of execution granted on condition that applicant furnish bank guarantee for UGX 113,016,750 in favor of respondents, issued by third party bank, payable on demand following determination of appeal.
- Applicant to make cash deposit with Court of UGX 20,000,000 as security for costs in Civil Suit No. 139 of 2016.
- Securities to be effected within 30 days from date of ruling, failing which application shall stand dismissed and execution shall proceed unfettered.
- No order as to costs of this application.
Rules and key headnotes
Legislation cited (2)
Cases cited (6)
- Uganda Revenue Authority v Kirenga Fred (Miscellaneous Application No. 91 of 2014)
- Asante Aviation Limited v Stanbic Bank (Uganda) Ltd (Miscellaneous Application No. 555 of 2020)
- Theodore Ssekikubo and Others v The Attorney General and Others (Constitutional Application No. 03 of 2014)
- John Baptist Kawanga v Namyalo Kevina and another (Miscellaneous Application No. 12 of 2017)
- Kitende Apollonaries Kalibogha and 2 others v Mrs. Eleonora Wismer (Supreme Court Miscellaneous Application No. 6 of 2010)
- Hwang Sung Industries Ltd v Tajdin Hussien and 2 others (Supreme Court Miscellaneous Application No. 19 of 2008)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.