Mbabazi v Microcare Insurance Ltd & Insurance Regulatory Authority (Miscellaneous Cause No. 17 of 2014)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Held that a statutory security deposit held by the Insurance Regulatory Authority under section 7 of the Insurance Act is an asset of the insurer judgment debtor, not a statutory fund held in trust. The garnishee admitted holding the deposit and the judgment debtor could enforce recovery. A garnishee order absolute was issued to attach the security deposit to satisfy the unsatisfied decree. A winding-up petition filed after the court overruled a preliminary objection constituted an abuse of process.
Outcome
Garnishee order absolute granted, security deposit to be attached and paid to judgment creditor
Facts
The Applicant obtained a consent judgment against Microcare Insurance Limited for UGX 110,000,000 in an advocate's bill of costs. The judgment debtor failed to pay. The Applicant filed a garnishee application to attach funds held by the Insurance Regulatory Authority as the judgment debtor's statutory security deposit under the Insurance Act. The garnishee admitted holding UGX 145,723,000 as security deposit but denied liability, claiming the funds were held in trust as a statutory fund. After the court overruled the garnishee's preliminary objection, a winding-up petition was filed against the judgment debtor.
Issues
- Whether the Garnishee is indebted to the Judgment Debtor.
- Whether a Garnishee Order absolute should be issued against the Garnishee.
Orders
- Garnishee Order absolute issued.
- Judgment Debtor's asset in the form of security deposit in possession of the Garnishee to be attached and paid out in settlement of Applicant's unsatisfied Decree in the sum of UGX 110,000,000.
- Costs of the Application awarded to the Applicant.
Rules and key headnotes
Legislation cited (7)
Cases cited (2)
- Samwiri Massa v Rose Achieng [1978] HCB 297
- DFCU Ltd v Begmohamed Ltd (Court of Appeal Civil Application No. 65 of 2005)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.