Home › Case law › Shumuk Aluminium Industries Ltd and Another v Bank of Baroda (Uganda) Ltd (Civil Suit No. 138 of 2019)
Shumuk Aluminium Industries Ltd and Another v Bank of Baroda (Uganda) Ltd (Civil Suit No. 138 of 2019)
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Held that a bank lawfully recalled credit facilities repayable on demand where the borrower defaulted on monthly interest payments for three consecutive months, rendering the accounts non-performing, and that the guarantor was liable upon the principal debtor's default.
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