Ganafa v DFCU Bank Ltd (Miscellaneous Application No. 2951 of 2018)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court held that costs incurred by a bank in defending a suit brought by a mortgagor to prevent sale of mortgaged property are costs incidental to the sale within section 31(1)(c) of the Mortgage Act 2009. Such costs must be discharged from sale proceeds before applying proceeds to the outstanding loan. Execution proceedings to recover those costs separately from the mortgagor, after sale proceeds had already covered both the costs and the loan, were declared illegal.
Outcome
Execution proceedings declared illegal and struck off; applicant granted costs
Facts
The applicant Kisawuzi mortgaged property (LRV 3808 Folio 20 Plot 665 Kyadondo Block 187 at Kasangati) to secure a loan advanced by the respondent bank to two borrowers, Lujuza Joseph and Kiwanuka Ponny. Kisawuzi later sued the bank (HCCS No. 465 of 2014) seeking a declaration that he was not liable for the loan and to prevent the bank from selling his property. Kisawuzi lost that suit and the bank was awarded taxed costs of UGX 13,324,600. The mortgaged property was sold on 30 May 2016 for UGX 160,000,000. At the time of sale, the outstanding loan balance was UGX 132,102,713. The bank subsequently filed execution proceedings (EMA No. 97 of 2018) to recover the taxed costs from Kisawuzi. Kisawuzi applied to have the execution proceedings declared illegal, arguing that the sale proceeds were sufficient to cover both the outstanding loan and the costs.
Issues
- Whether execution proceedings for costs awarded in the main suit are illegal where the mortgaged property was sold for proceeds sufficient to cover both the outstanding loan and the costs.
- Whether costs incurred by a mortgagee in defending a suit brought to prevent the sale of mortgaged property are costs 'incidental to the sale' within the meaning of section 31(1)(c) of the Mortgage Act 2009.
- Whether the proceeds of sale of mortgaged property must be applied to discharge costs incidental to the sale before discharging the principal loan sum and interest under the mortgage.
Orders
- Application allowed.
- Execution proceedings vide EMA No. 97 of 2018 against the applicant for costs in HCCS No. 465 of 2014 declared illegal.
- The illegal execution proceedings struck off the record of court.
- Costs of the application awarded to the applicant, to be paid by the respondent DFCU Bank Ltd.
Rules and key headnotes
Legislation cited (6)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.