Bataringaya Fred v Stanbic Bank Uganda Limited (Miscellaneous Application 195 of 2023)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court granted the applicant unconditional leave to appear and defend a summary suit brought by Stanbic Bank for loan recovery. The court held that the applicant demonstrated triable issues regarding the scope of the loan facility, the legality of the interest charged, whether the loan was part of the Bank of Uganda Agricultural Credit Finance Scheme, and the lawfulness of debits made to the applicant's account. These issues required full trial and could not be settled summarily. The applicant was ordered to file a defence within 15 days, with costs to abide the outcome of the suit.
Outcome
Applicant granted unconditional leave to defend; matter to proceed to full trial
Facts
Stanbic Bank instituted Summary Suit No. 0951 of 2022 against Bataringaya Fred for recovery of Ugx 2,161,125,570 based on a guarantee agreement and loan facility letter. The bank had advanced two facilities: an Agricultural Medium Term Loan 1 of Ugx 1,300,000,000 to refinance an Equity Bank loan, and a Medium Term Loan 2 of Ugx 600,000,000 for cattle fattening. The applicant claimed the bank represented the loan as part of the Bank of Uganda Agricultural Credit Finance Scheme with 12% interest, but charged 18% instead. He alleged the loan purpose was frustrated by cattle movement restrictions and presidential directives, resulting in loss of 176 cattle worth Ugx 714,000,000. He claimed to have paid Ugx 787,379,843 and alleged the bank illegally debited Ugx 1,356,910,311 from his farm account without consent. The bank denied the loan was under the BOU-ACF scheme and stated the applicant defaulted on both facilities.
Issues
- Whether the applicant has demonstrated triable issues warranting unconditional leave to appear and defend the summary suit.
- Whether the applicant is indebted to the respondent to the sum claimed.
- Whether the loan facility was advanced under the Bank of Uganda Agricultural Credit Finance (BOU-ACF) Scheme.
- Whether the respondent fraudulently misrepresented the nature of the loan facility.
- Whether the interest rate of 18% per annum is legal and enforceable.
- Whether the respondent was justified in debiting Ugx 1,356,910,311 from the applicant's account without consent.
- Whether the respondent breached the loan agreement terms regarding repayment structure.
Orders
- Application for unconditional leave to appear and defend the suit allowed.
- Applicant to file a defence to the suit within 15 days of the date of this ruling.
- Costs of the application to abide the outcome of the suit.
Rules and key headnotes
Legislation cited (3)
Cases cited (2)
- Maluku Interglobal Trade Agency v Bank of Uganda [1985] HCB 65
- Golden Leaves (U) Ltd & 2 Others v Ismail Dabule (Miscellaneous Application No. 49 of 2020)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.