Sendagire and Another (Both T A Bright Future Vocational Secondary School (HC Civil Suit No. 26 of 2008)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court held that the mortgagee's receiver sold the mortgaged property below forced sale value in breach of the duty of care owed to the mortgagor. The sale to the third defendant was conducted without transparency and without obtaining the best price reasonably obtainable. The plaintiffs were entitled to damages for the difference between undervalue and best price, plus compensation for movable property unlawfully retained by the third defendant.
Outcome
Plaintiffs awarded damages totalling UGX 300,000,000 with interest; however, their claim for reinstatement as owners and eviction of 3rd Defendant dismissed
Facts
The Plaintiffs, proprietors of Bright Future Vocational Secondary School, obtained credit facilities of UGX 315,000,000 from the 1st Defendant bank secured by a mortgage over their school property. Following default, the 1st Defendant appointed the 2nd Defendant as Receiver on 23 October 2007 with instructions to conduct a competitive bidding process for the sale of the mortgaged property. The valuation report dated June 2007 put the current market value at UGX 550,000,000 and forced sale value at UGX 330,000,000. An auction was advertised for 3 December 2007. Although the highest bid at auction was from Hared Petroleum for UGX 400,000,000, this bidder withdrew. The Receiver sold the property to the 3rd Defendant on 10 December 2007 for UGX 300,000,000 by private treaty without obtaining the 1st Defendant's consent as required, and the sale was not disclosed to the Plaintiffs until after completion. The 3rd Defendant took over the school in early 2008, removed movable property, and registered the property as undeveloped land. Evidence showed the 3rd Defendant had engaged with the Plaintiffs before the auction, offering to help them redeem the property.
Issues
- Whether the suit property was lawfully sold to the 3rd Defendant by the 2nd Defendant?
- Whether there were any movable properties belonging to the Plaintiffs at the suit property unlawfully taken over or retained by the Defendants jointly or severally?
- Whether the Plaintiffs are still indebted to the 1st Defendant and if so to what extent?
- What remedies are available to the parties?
Orders
- The 1st Defendant to pay UGX 100,000,000 to the Plaintiffs as general damages.
- The 3rd Defendant to pay UGX 200,000,000 to the Plaintiffs as general and punitive damages.
- Interest at commercial rate 21% per annum from 2008 until payment in full.
- Costs awarded against 1st and 3rd Defendants: 1st Defendant pays 40% and 3rd Defendant pays 60% of costs.
Rules and key headnotes
Legislation cited (7)
Cases cited (20)
- Barclays Bank of Uganda v Livingstone Kakende (Civil Appeal No. 22 of 1993)
- Jemeo Twase & 3 Ors v Attorney General & Benson Ninsiima (High Court Civil Suit No. 421 of 2002)
- Epaineti Mubiru v Uganda Credit and Saving Bank (High Court Civil Suit No. 567 of 1965)
- Roger Michael and others Versus Douglas Henry Miller and Another (2004) EWCA C.v. 282
- Downsview Nominees Ltd & Another Versus First City Copr Ltd and Another (1993) 3 ALL ER 626
- Yosiya Sajabi v Musa Umar Amerliwala and Matia Wamala (Civil Appeal No. 72 of 1955)
- Cuckmere Brick Co Ltd and another v Mutual Finance Ltd [1971] (2) All ER 63
- Reliance Permanent Building Society v Harwood-Stamper ([1944] 2, All ER 75
- Afro Moto Ltd & 2 others v Barclays Bank Uganda Ltd (High Court Civil Suit No. 189 of 2010)
- Gestmin SGPS SA Vs Credit SUISSE (UK) Ltd and another (2013) EWHC 3560 (Comm)
- Hall brothers SC Co Itd Vs Young (1939) 1 KB 748
- Dharamshi Vs Karan (1974) EA 41
- Uganda Telecom vs Tanzanite Corporation (2005) EA 351
- Provincial Insurance Co. of EA Ltd vs. Mordekai Mwanga Nandwa (1995-1998) EA 288
- Diary Development Authority v Ngarambe (High Court Civil Appeal No. 10 of 2011)
- Benedito Musisi v Attorney General (High Court Civil Suit No. 708 of 1992)
- Borham-Carter vs. Hyde Park Hotel [1948] 64 TLR
- Kyambadde vs. Mpigi District Administration [1983] HCB 44
- National Bank of Commerce Ltd and 2 others (High Court Civil Suit No. 496 of 2003)
- Moses Jim Jjagwe v Standard Chartered Bank (U) Limited (High Court Civil Suit No. 37 of 2004)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.