Stanbic Bank Uganda Limited v Millers Choice Limited & 2 Others (Miscellaneous Application 707 of 2024)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court granted judgment on admission against respondents who admitted obtaining a loan of UGX 400,000,000 and failing to meet loan repayment obligations. The court held that the respondents' defence—that the bank promised additional credit for start-up capital—was unsupported by evidence and inadmissible under the parole evidence rule, as the alleged promise was not incorporated into the written loan agreement. A default judgment was also entered against defendants who failed to file a defence.
Outcome
Judgment on admission and default judgment entered in favour of plaintiff. Defendants jointly and severally liable to pay UGX 427,487,440 plus interest at 19% per annum from 23 May 2023 until full payment.
Facts
The plaintiff bank advanced a loan of UGX 400,000,000 to the first defendant for constructing a water and juice processing line. The second and third defendants executed personal guarantees for the loan. The first defendant used the funds to construct the processing line but subsequently failed to meet its loan repayment obligations. The defendants claimed they were promised additional working capital after completing the line, which the bank allegedly failed to provide. No documentary evidence supported this claim. The bank instituted Civil Suit No. 0441 of 2023 seeking recovery of UGX 427,487,440 in outstanding arrears. In their written statement of defence, the defendants admitted receiving the loan and failing to repay it. The fourth defendants, guarantors, never filed a defence despite being served.
Issues
- Whether judgment on admission should be entered against the Respondents in Civil Suit No. 0441 of 2023.
Orders
- A judgment on admission is entered in Civil Suit No. 0441 of 2023 in favour of the Applicant/Plaintiff against the Respondents/1st, 2nd and 3rd Defendants jointly and severally.
- A default judgment is entered in favour of the Applicant/Plaintiff against the 4th Defendants in Civil Suit No. 0441 of 2023.
- The Defendants in Civil Suit No. 0441 of 2023 shall jointly and severally pay the outstanding loan arrears of UGX 427,487,440 to the Applicant/Plaintiff.
- Interest is payable on the sum in (iii) above at the rate of 19% per annum from 23 May 2023 until full payment.
- Costs of Civil Suit No. 0441 of 2023 and of this application are awarded to the Applicant/Plaintiff.
Rules and key headnotes
Legislation cited (7)
Cases cited (3)
- Miraj Barot v Salvation Army (HCCS No. 713 of 2015)
- Cassam v Sachania [1982] KLR 191
- Board of Governors, Nebbi Town S.S.S. v Jaker Food Stores Ltd (HCMA No. 0062 of 2016)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.