Summer Fruits Uganda Limited and Another v Development Finance Corporation of Uganda and 2 Others (Civil Suit 1077 of 95)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
The court ordered the plaintiff companies to furnish security for costs in the sum of Shs.200,000,000 within 30 days. The application was brought under Order 25 Rule 1 of the Civil Procedure Rules and Section 404 of the Companies Act. The court found credible testimony that the first plaintiff company would be unable to pay the defendants' costs if unsuccessful, as its assets totalling US $122,600 were insufficient to cover the debt of US $292,419.5 plus costs.
Outcome
Civil Suit No. 1077 of 1995 struck out with costs following failure to furnish security for costs within the stipulated time
Facts
The plaintiffs, Summer Fruits (U) Limited and Uganda Aviation Service, filed a suit challenging the appointment of receivers to manage the affairs of the first plaintiff company. The appointments had been made under mortgage provisions after the plaintiffs allegedly defaulted. The defendants/applicants applied for an order requiring the plaintiffs to deposit security for costs of Shs.200,000,000. The applicants alleged that besides costs, the first plaintiff owed US $292,419.5 under the mortgage. Evidence showed that the first plaintiff's assets, including a 49% shareholding in Uganda Products (U) Ltd, totalled only US $122,600, insufficient to satisfy the debt plus costs if the plaintiffs lost the suit. The plaintiffs failed to comply with the court's order to furnish security within 30 days, resulting in the suit being struck out.
Issues
- Whether the plaintiff company should be ordered to furnish security for costs under Section 404 of the Companies Act.
Orders
- Application allowed.
- Respondents/Plaintiffs ordered to furnish security for costs in the sum of Shs.200,000,000 within 30 days.
- Upon failure to comply within 30 days, HCCS No. 1077/95 struck out with costs.
Rules and key headnotes
Legislation cited (2)
Cases cited (4)
- John Bishop (Caterers) Ltd & Another v National Union Bank Ltd and Others [1973] 1 WLR 797
- Ochenbo v Sentamu [1977] HCB 19
- G Mathereds v NM Patel & Another (Civil Suit No. 94 of 1984)
- AK Detergents Ltd v CM Combined (U) Ltd
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.