Housing Financing Bank Limited v Silk Events Limited and Another (Civil Appeal 300 of 2021)
Observed later treatment
No later-treatment classification is recorded for this judgment.
Citator coverage is limited to judgments in the Wakilii corpus and source-matched treatment records. Absence of a signal is not an assertion that the case remains good law.
AI-generated summary. This summary was generated by AI from the full text of the judgment. It may contain errors or omissions—always read the source judgment before relying on it.
Holding
The High Court dismissed the appeal against the grant of a temporary injunction restraining sale of mortgaged property. The court held that Regulation 13(1) of the Mortgage Regulations 2012 mandatorily requires a 30% security deposit as a precondition for stopping or adjourning a mortgagee's sale, except where the application is by the spouse of a mortgagor under Regulation 13(6). The Assistant Registrar erred in not imposing this requirement, but since the injunction was already in place and the advertisement period had elapsed, setting it aside would serve no useful purpose. The appeal was dismissed with costs to abide the result of the main suit.
Outcome
Appeal dismissed; temporary injunction remains in place pending disposal of the main suit
Facts
The 1st respondent obtained a loan of UGX 348,000,000 from the appellant bank in November 2018. The 2nd respondent, a director of the 1st respondent, obtained a personal loan of UGX 500,000,000 in August 2017 for home purchase. The 1st respondent executed a corporate guarantee to secure the 2nd respondent's borrowing. As security for both loans, the 2nd respondent mortgaged his property comprised in Kyadondo Block 264 Plot 2183. Following default, the appellant advertised the mortgaged property for sale. The respondents sued seeking declarations that the credit facilities had been frustrated by Covid-19 Control Regulations banning public gatherings, and alternatively that the appellant's refusal to restructure the loans and attempt to sell the property was illegal. They sought a permanent injunction restraining disposal of the property. Pending the suit, the respondents obtained a temporary injunction from the Assistant Registrar, who declined to impose the 30% security deposit requirement under Regulation 13 of the Mortgage Regulations 2012. The appellant appealed.
Issues
- Whether the Assistant Registrar erred in not deciding whether the 1st respondent had locus standi to file the application.
- Whether the Assistant Registrar erred in disregarding the fact that the 2nd respondent had not filed an affidavit in support of the application.
- Whether the Assistant Registrar erred in declining to require the respondents to pay a security deposit of 30% of the forced sale value of the mortgaged property or outstanding amount as a condition for the grant of the temporary injunction.
- Whether the Assistant Registrar erred in finding that the respondents' default occurred after promulgation of the Covid-19 Control Regulations.
- Whether the Assistant Registrar erred in deciding the application on the basis of the balance of convenience.
- Whether the Assistant Registrar erred in awarding the respondents the costs of the application.
Orders
- Appeal dismissed.
- Costs to abide the result of the suit.
Rules and key headnotes
Legislation cited (12)
- Mortgage Act 2009 s.41(1)
- Mortgage Regulations 2012 reg.13
- Mortgage Regulations 2012 reg.13(1)
- Mortgage Regulations 2012 reg.13(6)
- Mortgage Regulations 2012 reg.11(2)
- Mortgage Regulations 2012 reg.11(3)
- Civil Procedure Rules Order 41
- Civil Procedure Rules Order 9 r.2(1)
- Civil Procedure Rules Order 6 r.10
- Judicature Act s.14
- Land Act s.39(1)
- Public Health Control of Covid Rules 2020
Cases cited (25)
- Giella v Cassman Brown & Co Ltd [1973] EA 358
- Ganafa Peter Kisawuzi v DFCU Bank Limited (Civil Appeal No. 64 of 2016)
- Willis International Engineering and Contractors Ltd v DFCU Bank (Miscellaneous Application No. 1000 of 2015)
- North Bukedi Cooperative v Housing Finance Bank Ltd (Miscellaneous Application No. 173 of 2015)
- Proscovia Mukasa v Cooperative Bank Ltd in liquidation (Miscellaneous Application No. 799 of 2014)
- Kiyimba Kaggwa v Katende [1985] HCB
- American Cyanamid v Ethicon [1975] AC 396
- Nsubuga v Mutawe [1974] EA 487
- Whitehorn v R (1983) 152 CLR 657
- Haji Edirisa Kasule v Housing Finance Bank Ltd (Miscellaneous Application No. 667 of 2013)
- Guaranty Trust Bank (U) Ltd v Ankole Riverline Hotel Ltd (Civil Appeal No. 28 of 2014)
- Paunocks Enterprises Ltd v Stanbic Bank (U) Ltd (Miscellaneous Application No. 1113 of 2014)
- Willis International Engineering and Contractors Ltd v DFCU Bank (Miscellaneous Application No. 1000 of 2015)
- Miao Huaxian v Crane Bank Limited (Miscellaneous Application No. 935 of 2015)
- GS Royal Hardware and Industries Ltd v Equity Bank (U) Ltd (Miscellaneous Application No. 721 of 2015)
- Parul Ben Barot v Victoria Finance Company Ltd (Miscellaneous Application No. 319 of 2017)
- Alpha2 Business Company Ltd v Diamond Trust Bank Ltd (Miscellaneous Civil Application No. 71 of 2016)
- Chaudhri Thakur Das v Chaudhri Jairaj Singh [1903] UKPC 77
- Warburton v Loveland (1824-34) All ER Rep 589
- Escoigne Properties Ltd v Inland Revenue Commissioners [1958] 1 All ER 406
- River Wear Commissioners v Adamson (1877) 2 App Cas 743
- Eastman Photographic Materials Co v Comptroller-General of Patents [1898] AC 571
- Heydon's Case (1584) 3 Co Rep 7a
- Nakayaga v FINA Bank (Miscellaneous Application No. 471 of 2014)
- Whitney v Commissioner of Inland Revenue [1926] AC 37
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.