Twed Consulting Company Ltd v Springwood Capital Partners Ltd (Civil Suit No. 550 of 2014)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Held that where parties agreed the plaintiff would loan USD 75,000 to a consortium for urgency and the defendant undertook to refund 67.5%, such refund was due within a reasonable time. A delay of over two years was unreasonable. A subsequent consortium agreement executed nine months later to which the plaintiff was not a party could not vary the earlier bilateral agreement or extend the time for repayment. The plaintiff was entitled to repayment.
Outcome
Plaintiff's suit succeeds with recovery of USD 50,625 plus interest and costs
Facts
The plaintiff and defendant signed an agreement on 12 March 2012 to participate as joint bidders in a Uganda Police Force public-private partnership. Due to urgency, the plaintiff agreed to loan USD 75,000 to the consortium immediately, with the defendant undertaking to refund 67.5% (USD 50,625). The plaintiff paid as agreed. The plaintiff's equity stake in the consortium was 32.5%. On 15 December 2012, a subsequent consortium agreement was executed among four parties (including the defendant but excluding the plaintiff), removing the plaintiff from the consortium. Despite demands, the defendant failed to refund the plaintiff's money. The plaintiff filed suit on 8 August 2014.
Issues
- Whether or not the money lent by the Plaintiff to the Defendant is due for repayment?
Orders
- Judgment entered for the Plaintiff for a sum of US$50,625.
- Plaintiff awarded interest at 10% per annum from the date of filing the suit on 8th August 2014 until the date of judgment.
- Further interest awarded at 10% per annum on the aggregate amount at the date of judgment till payment in full.
- Costs awarded to the Plaintiff.
Rules and key headnotes
Legislation cited (7)
Cases cited (6)
- Atom Outdoor Limited v Arrow Centre (U) Limited (High Court Civil Suit No. 448 of 2003)
- Andes (EAS) Limited v Akoong Wat Mulik Systems Ltd and others (Civil Suit No. 184 of 2008)
- Mujuni Ruhemba v Skanka Jensen (U) Ltd (Civil Appeal No. 56 of 2000)
- Godfrey Magezi and another v Sudhir Ruparelia (Supreme Court Civil Appeal No. 16 of 2001)
- Scorpion Holdings Limited v Lion Assurance Co. Limited (Civil Suit No. 221 of 2013)
- Simon Tendo Kabenge v Mineral Access Systems Uganda Ltd (High Court Civil Suit No. 275 of 2011)
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.