Standard Chartered Bank (U) Limited v Akitwine (Civil Suit 389 of 2018)
Observed later treatment
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Holding
The High Court Commercial Division held that where a creditor establishes a prima facie case of indebtedness through documentary evidence of a loan agreement and acknowledgment of debt, the evidential burden shifts to the debtor to prove payment. The defendant having failed to appear and prove payment, judgment was entered for the plaintiff bank for the outstanding loan balance of UGX 122,393,664 plus contractual interest at 23% per annum from the date of filing suit.
Outcome
Judgment entered for plaintiff for full amount claimed plus interest and costs
Facts
On 20th June 2016, the defendant borrowed UGX 123,000,000 from the plaintiff bank, repayable in 72 monthly instalments of UGX 3,163,942 at 23% per annum interest. The defendant made regular payments for the first eight months but defaulted from June 2017. On 9th April 2018, the defendant acknowledged owing UGX 101,217,631 and agreed to restructure the loan with monthly payments of UGX 2,000,000. The defendant's terminal benefits of UGX 21,415,283 were applied to the outstanding balance. The defendant made no further payments after the restructuring. When the suit was called for hearing, the defendant and his counsel failed to appear, and the plaintiff proceeded ex parte.
Issues
- Whether the defendant defaulted on the terms of the loan agreement.
- Whether the plaintiff is entitled to recover the sums outstanding under the loan agreement.
- Whether the plaintiff is entitled to the remedies sought.
Orders
- Judgment entered for the plaintiff against the defendant.
- Defendant to pay UGX 122,393,664 being the outstanding balance on the loan.
- Interest thereon at the rate of 23% per annum from 17th May 2018 until payment in full.
- Costs of the suit awarded to the plaintiff.
Rules and key headnotes
Legislation cited (2)
Cases citing this judgment (1)
How later Ugandan judgments in the Wakilii corpus have cited this case. Treatment labels come from Sequitur — Uganda’s citator — each backed by a verbatim span from the citing judgment, and are not an assertion that this case is, or is not, good law.
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.