Basajjabalaba v Bank of Uganda & Anor (Miscellaneous Application No. 738 of 2011)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court held that where an applicant proves full payment of a decretal sum under a consent judgment by way of set-off and no rebuttal is offered by the respondent, the applicant is entitled to consequential orders for the release of securities held by the respondent pursuant to that consent judgment. The court ordered the return of all certificates of title held as security and the removal of encumbrances thereon.
Outcome
Application granted. Certificates of title and securities to be released to the applicant with all encumbrances removed.
Facts
Basajjabalaba Hides and Skins Ltd had entered into a consent judgment on 3 February 2010 in Civil Suit OS 9 of 2005 whereby it agreed to pay Bank of Uganda USD 11,575,000 within six months in respect of debts assigned from Standard Chartered Bank and Stanbic Bank. Upon default, Bank of Uganda would be at liberty to realise securities comprising 18 certificates of title mortgaged by the applicant. The applicant was also to pay costs of earlier proceedings and insurance and receivership costs. The applicant claimed it had fully discharged its obligations through a set-off arrangement with the Government of Uganda (which owed the applicant compensation) and direct payments. The applicant sought consequential orders for the return of the certificates of title, removal of encumbrances, and costs. Bank of Uganda opposed the application, alleging non-payment of the principal sum and arguing that the consent judgment did not provide for the release of securities.
Issues
- Whether the applicant performed or satisfied its obligation imposed by the consent judgment.
- Whether the consequential orders prayed for flow from the satisfaction of the consent judgment.
- Whether the applicant's securities held for satisfaction of the consent judgment obligation can be withheld to satisfy other anticipated decrees outside the consent judgment.
Orders
- The first respondent returns to the applicant all the listed certificates of title that it held as security for the decretal sums already paid.
- The first respondent shall release all the encumbrances on the returned securities whether as caveats or mortgages to ensure payments under the consent judgment.
- The first respondent shall pay the applicant costs of this application.
- Certificate for three advocates declined.
Rules and key headnotes
Legislation cited (4)
Cases cited (4)
- Samwiri Massa v Rose Achen [1978] HCB 297
- Makerere University v St. Mark Education Institute Ltd and Others [1994] KALR 26
- Eridadi Ahimbisibwe v World Food Programme and Others [1998] KALR 32
- Kalyesubula Fenekansi v Luwero District Land Board and Others (Miscellaneous Application No. 367 of 2011)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.