Serwanga & Ors v Diamond Trust Bank Uganda Ltd (Miscellaneous Application No. 846 of 2016)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court dismissed the application for an interlocutory injunction to restrain the respondent bank from selling mortgaged properties. The applicants failed to demonstrate a prima facie case, having admitted indebtedness and made no efforts to pay arrears. The court granted a conditional injunction under Regulation 13 of the Mortgage Regulations 2012, requiring the applicants to rectify defaults within 21 days or deposit 30% of the outstanding amount to stop any subsequent sale.
Outcome
Application dismissed; conditional injunction granted requiring applicants to rectify default within 21 days or deposit 30% of outstanding amount to stop future sale
Facts
The applicants mortgaged several properties to the respondent bank to secure loan facilities totalling approximately UGX 1.7 billion. The loan originated when the applicants inherited a previous borrower's debt by swapping their titles as security to expand their school business at Najjanankumbi. The applicants obtained further overdrafts to meet operational requirements. Due to financial difficulties, the applicants defaulted on repayments. By March 2016, the outstanding debt was approximately UGX 2.4 billion. The respondent issued notices of default and threatened foreclosure. The applicants sought an interlocutory injunction to prevent sale of the mortgaged properties, arguing they had not received proper statutory notices and that some properties were sufficient to secure the debt. The applicants admitted indebtedness but requested more time to pay.
Issues
- Whether the applicants have demonstrated a prima facie case with a probability of success.
- Whether the applicants will suffer irreparable injury that cannot be adequately compensated by damages.
- Whether the balance of convenience favours granting the injunction.
- Whether there is a status quo that the injunction seeks to preserve.
- Whether the statutory notices under the Mortgage Act were properly served on the applicants.
Orders
- Application for interlocutory injunction dismissed.
- Conditional injunction granted on statutory terms.
- The respondent shall re-advertise the property for sale if the applicants do not comply with the terms of this order.
- The applicants shall rectify any default within 21 days by paying all arrears and being on schedule in loan repayments.
- Upon failure to rectify the default, the respondent shall be entitled to re-advertise the property for sale.
- The intended sale can be stopped by the applicants depositing 30% of the outstanding loan amount before sale as prescribed by Regulation 13 of the Mortgage Regulations.
- Costs of this application shall abide the outcome of the main suit.
Rules and key headnotes
Legislation cited (8)
- Civil Procedure Rules Order 41 rule 1(a)
- Mortgage Act
- Mortgage Regulations 2012 regulation 6
- Mortgage Regulations 2012 regulation 7
- Mortgage Regulations 2012 regulation 8
- Mortgage Regulations 2012 regulation 13
- Mortgage Regulations 2012 regulation 13(5)
- Mortgage Regulations 2012 regulation 13(7)
Cases cited (8)
- Giella v Cassman Brown & Co Ltd [1973] 1 EA 358
- Nsubuga and Another v Mutawe (1974) EA 487
- Erunasani Kivumbi and 3 Others v The Registrar of Titles (Miscellaneous Cause No. 102 of 2009)
- American Cyanamid Co Ltd v Ethicon Ltd [1975] 1 All ER 504
- Meera Investments Ltd v Commissioner General of Uganda Revenue Authority (Miscellaneous Application No. 218 of 2006)
- Cayne v Global Natural Resources Plc [1984] All ER 225
- Matex Commercial Supplies Ltd and Another v Euro Bank Ltd (in liquidation) [2008] 1 EA 216
- Maithya v Housing Finance Company of Kenya and Another [2003] 1 EA 133
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.