William Sebuliba Kayongo & Anor v Barclays Bank of Uganda Ltd (HCT-00-CC-MA 325 of 2008)
Observed later treatment
No later-treatment classification is recorded for this judgment.
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Holding
Held that an on-demand guarantee given collaterally to a mortgage is subject to Section 16 of the Mortgage Act, which provides that obligations collateral to a mortgage cannot be greater than the mortgagor's obligations under the mortgage. The guarantee, though payable on demand, is not autonomous where it secures a mortgage facility. Triable issues existed requiring leave to defend, as the extent of obligations under the mortgage deed was not before the court.
Outcome
Applicants granted unconditional leave to defend the summary suit
Facts
Barclays Bank brought a summary suit against Berkerly Educational Enterprises Ltd and its directors William Sebuliba Kayongo and George William Semivule to recover UGX 1,743,864,285 under personal guarantees. The loan was secured by a mortgage over school properties and unlimited personal guarantees by the directors. The bank advanced an overdraft facility of UGX 411,141,555 in 2004 and an apex loan of UGX 328,913,244 in 2006, both secured by mortgages over land at Bunamwaya. The parties attempted to jointly sell the school to settle the debt but failed. Kayongo and Berkerly Educational Enterprises Ltd applied for leave to defend, arguing that the bank was wrongly pursuing both mortgage and guarantee simultaneously, that the wrong interest rate (21% instead of 7%) was applied, and that funds were wrongly disbursed to a third party without authority.
Issues
- Whether an on-demand guarantee given to a bank in addition to a mortgage is subject to the limitation in Section 16 of the Mortgage Act that the obligations of a guarantor cannot be greater than the obligations of the mortgagor under the mortgage.
- Whether a defendant against whom a summary suit is brought on an on-demand guarantee may raise defences relating to the underlying secured facility and mortgage.
Orders
- Application for leave to defend granted.
- Applicants to file their defence within 14 days of this ruling.
- Costs in the cause.
Rules and key headnotes
Legislation cited (4)
Cases cited (6)
- Maluku Interglobal v Bank of Uganda [1985] HCB 65
- Kundalal Restaurant v Deushi & Co [1952] EACA 77
- Zola & Another v Ralli Brothers Ltd & Anor [1969] EA 691
- Edward Owen Engineering Ltd v Barclays Bank International Ltd [1978] 1 QB 159
- Comdel Commodities Ltd v Siporesc Trade SA [1997] 1 Lloyd's Rep 424
- Habottle (R.D) (Mercantile) Ltd v National Westminster Bank [1978] 1 QB 146
Full judgment
The original judgment as reported. Read the original PDF before relying on any passage.