Farm Uganda Farmers Group Limited and 2 Others v Stanbic Bank Uganda Limited (Miscellaneous Application 777 of 2023)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court Commercial Division refused the applicants' request for leave to defend a summary suit for loan recovery. The court held that the applicants failed to demonstrate a triable defence. Their claim that a third party owed them money which would fund loan repayment did not constitute a defence, as the bank was not party to agreements with the third party and received no instructions to deduct funds from any joint account. The existence of a potential claim against a third party does not entitle a defendant to leave to defend. Judgment was entered for the bank for UGX 263,072,329 plus interest and costs.
Outcome
Application dismissed; summary judgment entered in favour of the bank for the full amount claimed plus interest and costs
Facts
Stanbic Bank advanced a loan of UGX 500,000,000 to Farm Uganda Farmers Group Ltd in December 2021 for working capital. The second and third applicants executed personal guarantees. The applicants serviced the loan partially but defaulted on the balance of UGX 263,072,329. The applicants claimed their ability to repay was constrained because a third party, Blue Cup Company Ltd, owed them UGX 650,000,000. The applicants alleged they had entered into a joint venture with Blue Cup and opened a joint account, and that the bank was aware the loan would be funded from this account. The bank denied knowledge of any arrangement with the third party and stated the third party was never part of the loan facility. The applicants obtained a consent judgment against Blue Cup, but payments under that judgment were to be made to an account at Centenary Bank, not Stanbic. The bank filed a summary suit under Order 36 seeking recovery of the outstanding amount. The applicants applied for leave to appear and defend.
Issues
- Whether the Applicants should be granted unconditional leave to appear and defend the summary suit.
- What remedies are available to the parties.
Orders
- The Applicants are denied leave to appear and defend Civil Suit No. 0418 of 2023.
- Judgment is entered against the Applicants jointly and severally for the sum of UGX 263,072,329.
- Interest on the judgment sum at the rate of 12.5% per annum from the date of judgment until payment in full.
- Costs of the Application and the main suit awarded to the Respondent.
Rules and key headnotes
Legislation cited (4)
Cases cited (6)
- Makula Interglobal Trade Agency v Bank of Uganda [1985] HCB 65
- Geoffrey Gatete and Another v William Kyobe (Supreme Court Civil Appeal No. 7 of 2005)
- Corporate Insurance Co. Ltd v Nyali Beach Hotel Ltd [1995-1998] EA 7
- UMEME Ltd v Justice Anup Singh Choudry (Miscellaneous Application No. 736 of 2021)
- Makau Nairuba Mabel v Crane Bank Ltd (Commercial Suit No. 380 of 2009)
- George Fredrick Wekesa v Caltex Kenya Ltd (High Court Civil Suit No. 1674 of 1997)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.