Greenland v Salim Musoke (High Court Suit No. 13 of 2006)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court Commercial Division granted an application by Greenland Bank Ltd. (in liquidation) to issue an originating summons seeking foreclosure of an equitable mortgage by deposit of title over land in Kyagwe Block 110 Plot 1005 Seeta. The defendant mortgagor had defaulted on overdraft facilities. The Court ordered that the registered proprietor James Opiny Isaya, who had executed a power of attorney in favour of the defendant, must be served with the originating summons as an interested party in the redemption of the mortgaged land.
Outcome
Application granted and originating summons to issue with service directed on the registered proprietor
Facts
Greenland Bank Ltd. (in liquidation) brought an application by originating summons seeking foreclosure as an equitable mortgagee. The defendant Salim Musoke Musisi had obtained overdraft facilities from the plaintiff bank and had deposited the certificate of title for land comprised in Kyagwe Block 110 Plot 1005 Seeta as security. The deposit was made pursuant to a power of attorney executed by the registered proprietor James Opiny Isaya. A caveat was lodged under Instrument No. MK 068129 of 20th May 2003. By 11th March 2004, the debt stood at UGX 9,750,964. The defendant failed to repay within the agreed time. The plaintiff sought orders for foreclosure and permission to sell the mortgaged land.
Issues
- Whether the plaintiff's application for an originating summons to issue for foreclosure should be granted.
- Whether the registered proprietor should be served with notice of the foreclosure proceedings.
Orders
- Originating Summons to issue.
- A copy of the Originating Summons, to be fixed for hearing by the registry, should be served on James Opiny Isaya as the registered proprietor of the land.
Rules and key headnotes
Legislation cited (3)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.