Kingston Enterprises Limited and 3 Others v Standard Chartered Bank (U) Limited (Civil Appeal 446 of 2021)
Observed later treatment
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Holding
Regulation 13(1) of The Mortgage Regulations 2012 mandatorily requires a mortgagor seeking to stop or adjourn the sale of mortgaged property to deposit 30% of the forced sale value or outstanding amount as a precondition to the grant of a temporary injunction. The court has no discretion to waive this requirement except under Regulation 13(6) where the application is by the spouse of a mortgagor. Disputes over the validity of the mortgage, the amount outstanding, or procedural irregularities do not exempt the mortgagor from the deposit requirement.
Outcome
Deputy Registrar's order upheld; appellants required to deposit 30% as precondition to temporary injunction
Facts
The appellants mortgaged properties to the respondent bank. Following default, the bank advertised the properties for sale. The appellants filed suit claiming they were not indebted as alleged and challenging the legality of the intended sale. They applied for a temporary injunction to stop the sale. The Deputy Registrar granted the injunction conditioned on the appellants depositing 30% of the outstanding amount claimed by the bank within 30 days. The appellants appealed, contending that Regulation 13(1) of The Mortgage Regulations 2012 was not mandatory and that the requirement should not apply where the indebtedness, the outstanding amount, and the legality of foreclosure were disputed.
Issues
- Whether Regulation 13(1) of The Mortgage Regulations 2012 mandates a 30% deposit as a precondition to granting a temporary injunction to stop the sale of mortgaged property, or whether the court has discretion to waive this requirement where the validity of the mortgage, the amount outstanding, or the foreclosure procedure is in dispute.
Orders
- Appeal dismissed.
- The costs of the appeal shall abide the result of the suit.
Rules and key headnotes
Legislation cited (6)
- Mortgage Regulations 2012 Regulation 13(1)
- Mortgage Regulations 2012 Regulation 13(6)
- Mortgage Regulations 2012 Regulation 11(2)
- Mortgage Act 2009 s.41(1)
- Land Act s.39(1)
- Civil Procedure Rules Order 41
Cases cited (17)
- Haji Edirisa Kasule and another v Housing Finance Bank Ltd and two others (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 and others v Stanbic Bank (U) Ltd (Miscellaneous Application No. 1113 of 2014)
- Willis International Engineering and Contractors Ltd and another v DFCU Bank (Miscellaneous Application No. 1000 of 2015)
- Miao Huaxian v Crane Bank Limited and another (Miscellaneous Application No. 935 of 2015)
- Ganafa Peter Kisawuzi v DFCU Bank Ltd (Civil Application No. 64 of 2016)
- G.S Royal Hardware and Industries Ltd and another v Equity Bank (U) Ltd and another (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 and two others (Miscellaneous Civil Application No. 71 of 2016)
- [1903] UKPC 77
- (1824-34) All ER Rep 589
- [1958] 1 All ER 406
- (1877) 2 App Cas 743
- [1898] AC 571
- (1584) 3 Co Rep 7a
- Nakayaga v FINA Bank and another (Miscellaneous Application No. 471 of 2014)
- [1926] AC 37
Cases citing this judgment (2)
How later Ugandan judgments in the Wakilii corpus have cited this case. Treatment labels come from Sequitur — Uganda’s citator — each backed by a verbatim span from the citing judgment, and are not an assertion that this case is, or is not, good law.
Full judgment
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