Great Lakes Coffee Company Ltd and Others v KCB Bank Uganda Limited (Civil Suit No. 261 of 2024; Miscellaneous Application No. 701 of 2024)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court dismissed an application for unconditional leave to appear and defend a summary suit for loan recovery. The applicants failed to establish any bona fide triable issues of fact or law. The second and third applicants had executed personal guarantees for the principal debtor's loan obligations and did not deny the debt. The applicants' defence that the principal debtor was under receivership did not discharge the guarantors' liability, as guarantors become immediately liable upon default by the principal debtor. The court entered judgment against the guarantors for USD 1,104,419 plus interest at 10.5% per annum from 29 February 2024.
Outcome
Application dismissed; judgment entered against 2nd and 3rd defendants (guarantors) for full debt plus interest
Facts
KCB Bank Uganda Limited filed a summary suit against Great Lakes Coffee Company Ltd and two guarantors for recovery of USD 1,104,419 arising from unpaid loan facilities. The loan facilities were advanced under a revolving local purchase order/contract financing arrangement in 2022, with each drawdown repayable within nine months. The second and third defendants executed personal guarantees dated 27 July 2022 undertaking to repay USD 1,000,000 plus interest and costs. Default in repayment commenced in May 2023. The principal debtor was subsequently placed under receivership by another creditor, Bank of Africa, in March 2023. The defendants sought unconditional leave to defend the summary suit, arguing that the receivership prevented the company from operating and repaying debts, and that the guarantors depended on the company for remuneration.
Issues
- Whether the applicants ought to be granted unconditional leave to defend Civil Suit No. 0261 of 2024
Orders
- Application for unconditional leave to appear and defend dismissed with costs to the respondent.
- Judgment entered in Civil Suit No. 0261 of 2024 against the 2nd and 3rd defendants.
- 2nd and 3rd defendants found liable for USD 1,104,419 (United States Dollars One Million, One Hundred Four Thousand Four Hundred Nineteen) as outstanding balance arising from loan facilities advanced to the 1st defendant.
- Interest on the principal amount awarded at a rate of 10.5% per annum from 29th February 2024 until payment in full.
- Costs of the application and the Civil Suit awarded to the plaintiff.
Rules and key headnotes
Legislation cited (8)
Cases cited (6)
- Byaruhanga Tumwesigye v Equity Bank (Uganda) Limited (HCMA No. 1052 of 2016)
- M.M.K Engineering v Mantrust Uganda Ltd (Miscellaneous Application No. 128 of 2012)
- Bhaker Kotecha v Adam Muhammed [2002] 1 EA 112
- Maluku Interglobal Trade Agency v Bank of Uganda [1985] HCB 65
- Children of Africa v Sarick Construction Ltd (Miscellaneous Application No. 134 of 2016)
- Eco Bank (U) Ltd v Emco Works Limited and 2 Others (Civil Suit No. 860 of 2018)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.