Kollo Auto Agencies Limited v Stanbic Bank (U) Limited (Miscellaneous Application 169 of 2023)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The High Court granted unconditional leave to appear and defend a summary suit for debt recovery where the respondent bank failed to adduce sufficient documentary evidence to establish the existence and accuracy of the claimed debt. The court held that the absence of the initial facility letter, interest rate schedules, and loan account statements created a triable issue of fact regarding how the principal sum accumulated to the claimed amount, making the matter unsuitable for summary procedure.
Outcome
Applicant granted unconditional leave to defend; matter to proceed to full trial
Facts
The respondent bank filed a summary suit seeking to recover UGX 392,481,685 from the applicant arising from two credit facilities: a bank guarantee of UGX 200,000,000 and an overdraft of UGX 150,000,000. The applicant acknowledged obtaining the facilities but disputed the claimed amount, contending that the overdraft was well-serviced and that the bank prematurely cashed the guarantee. The applicant also claimed the facilities were secured by property which the bank should have had recourse to before filing suit. The bank responded that the security was never perfected due to the applicant's failure to clear earlier indebtedness to another bank, and that it cashed the guarantee following a claim from a third party creditor. The bank also stated it applied money from the director's personal account towards the debt pursuant to a letter of set-off signed by the director.
Issues
- Whether the application raises a bonafide defence or any triable issue warranting the grant of leave to appear and defend the main suit
- What remedies are available to the parties
Orders
- Application allowed.
- Applicant granted unconditional leave to appear and defend the main suit.
- Applicant to file defence within 15 days from the date of ruling and serve upon the Respondent.
- Costs of the application to abide by the outcome of the main suit.
Rules and key headnotes
Legislation cited (2)
Cases cited (2)
- Maluku Interglobal Trade Agency v Bank of Uganda [1985] HCB 55
- Negalambire Faruku & 2 Ors v Woira Brian (HCMA No. 1145 of 2020)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.