Ssebowa v DFCU Bank Ltd (Civil Suit No. 422 of 2012)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The plaintiff guaranteed only UGX 50,000,000 for supply of cement to Mikwano Investments Ltd, not UGX 147,041,507 for restructured facilities. The defendant's demand based on a further charge document was rejected where the plaintiff proved he was unaware of handwritten insertions and correspondence showed he declined to pledge property for earlier loans. Defendant bound by its initial demand letter calling the guarantee for UGX 49,825,068.31. Declarations granted in plaintiff's favour.
Outcome
Plaintiff's claim substantially allowed; defendant's counterclaim for larger sums rejected; plaintiff liable only for guaranteed amount of UGX 50,000,000 plus interest minus sums already paid
Facts
In 2009 the plaintiff was approached by Mikwano Investments Ltd to guarantee UGX 50 million for purchase of cement from Hima Cement Ltd. The plaintiff deposited his certificate of title with the defendant bank as security and a mortgage/further charge document dated 3 December 2009 was executed showing three sums totalling UGX 147,041,507. When Mikwano defaulted, the defendant initially demanded UGX 49,825,068.31 from the plaintiff on 28 September 2010. The plaintiff acknowledged liability and proposed instalment payments, depositing UGX 8 million. On 10 January 2011 the defendant issued a final demand for UGX 206,434,764, alleging the plaintiff had guaranteed all of Mikwano's obligations. The plaintiff contended he guaranteed only UGX 50 million and that other figures were inserted in the mortgage document without his knowledge. Documentary evidence showed Mikwano had informed the bank in May 2008 that the plaintiff did not want his property used as security for other loans.
Issues
- How much did the Plaintiff and his co-guarantor, Serunjogi Geoffrey, guarantee under the mortgage agreement?
- How much is the Plaintiff indebted to the Defendant in the circumstances?
- What remedies are available to the parties?
Orders
- Declaration that the Plaintiff only guaranteed Uganda shillings 50,000,000 advanced by the Defendant to Hima Cement Ltd in favour of Mikwano Investments Limited and no more.
- Declaration that the Plaintiff is indebted to the Defendant as a guarantor of the said amount of Uganda shillings 50,000,000 together with interest, minus any amounts already paid by him towards settlement of his obligations.
- Declaration that the Defendant is bound by its demand dated 28 September 2010 disclosing a sum of Uganda shillings 49,825,068.31 as the outstanding amount.
- Costs of the suit awarded to the Plaintiff.
Rules and key headnotes
Legislation cited (5)
Cases cited (4)
- Kazzora v Rukuba (Supreme Court Civil Appeal No. 13 of 1992)
- Barclays Bank of Uganda v Jing Hong and Guo Dong (High Court Civil Suit No. 35 of 2009)
- Moschi versus Lep Air services Ltd [1973] AC 331
- Guaranty Trust Company of New York versus Hannay and Company Limited [1915] 2 KB 536
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.