Ddamulira Yusuf v Stanbic Bank (Uganda) Limited and Another (Civil Suit No. 0631 of 2017)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court dismissed the plaintiff's claim that the sale of his mortgaged property by the bank was illegal or fraudulent. The sale was governed by the Mortgage Act Cap 229, not the 2009 Act which was not in force at the relevant time. The mortgage deed expressly permitted sale without prior notice to the borrower and by either public auction or private treaty. The plaintiff failed to prove the property was sold at an undervalue. No fraud was established against either defendant. The second defendant was a bona fide purchaser for value without notice. The suit was dismissed with costs.
Outcome
Plaintiff's claim dismissed; second defendant's title confirmed as valid
Facts
The plaintiff, a former Stanbic Bank employee, obtained a residential loan of UGX 68,000,000 in June 2007 secured by a mortgage over his property in Mbalwa, Wakiso. The mortgage deed was executed on 28 June 2007 and registered on 16 July 2007. The plaintiff defaulted on repayment obligations. The bank exercised its power of sale and the property was advertised for public auction in October 2009. The second defendant responded to the advertisement, emerged as the highest bidder, and paid UGX 15,000,000. The property was transferred to the second defendant on 23 March 2010. The plaintiff discovered the transfer in 2016 and brought suit claiming the sale was illegal, conducted without proper notice, and at an undervalue. The plaintiff also alleged fraud by both defendants.
Issues
- Whether the disposal and transfer of the suit property was illegal and in contravention of the provisions of the mortgage deed.
- Whether the Defendants are liable for fraud.
- Whether the 2nd Defendant acquired a good title to the said land.
- What remedies are available to the parties.
Orders
- Suit dismissed.
- Costs to the defendants.
Rules and key headnotes
Legislation cited (5)
Cases cited (7)
- Cuckmere Brick Co Ltd v Mutual Finance Ltd [1971] 2 All ER 633
- National Bank of Commerce Limited v Saad Trading Company Limited (Civil Suit No. 0496 of 2003)
- Fredrick Zaabwe v Orient Bank & 5 Others (Civil Appeal No. 4 of 2006)
- Kampala Bottlers Ltd v Domanico (U) Ltd (Civil Appeal No. 22 of 1992)
- MS Fang Min v Belex Tours & Travel Ltd (Civil Appeal No. 6 of 2013)
- Hajji Abdu Nasser Katende v Vithalidas Haridas & Co Ltd (Civil Appeal No. 84 of 2003)
- Hannington Njuki v William Nyanzi (High Court Civil Suit No. 434 of 1996)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.