Uganda Case Law

Stanbic Bank (U) Limited v Royal Transit Limited & 2 Others

Stanbic Bank (U) Limited v Royal Transit Limited & 2 Others (Civil Suit 514 of 2012; Civil Suit 515 of 2012) [2024] UGCommC 297 (19 April 2024)

Court

Commercial Court of Uganda

Case number

Civil Suit 514 of 2012 ; Civil Suit 515 of 2012

Judge

Cornelia Kakooza Sabiiti, J

The court found that the Defendants defaulted on their obligations under finance lease agreements with the Plaintiff. The Plaintiff was entitled to repossess and sell the trucks per contract terms, and the sale proceeds were offset against the outstanding debt. The valuation reports produced by the Plaintiff were preferred over those of the Defendants due to their detail, methodology, and timing. The Defendants' liability was not extinguished by the sale, as the proceeds were insufficient to clear the debt. The 2nd and 3rd Defendants were held liable as guarantors, with their guarantees enfor…

Source excerpt

• Finance Lease Facility
• Guarantee Liability
• Contract Breach
• Asset Valuation
• Damages Assessment

Stanbic Bank(u) Ltd v Nakanyonyi Development Association(NADA) Ltd & Ors

Stanbic Bank(u) Ltd v Nakanyonyi Development Association(NADA) Ltd & Ors (Civil Suit No. 137 of 2012) [2015] UGCommC 144 (30 November 2015)

Court

Commercial Court of Uganda

Case number

Civil Suit No. 137 of 2012

The court held the borrowers were indebted, but also awarded damages for breach of the notice clause. The counterclaim against the valuers failed.

• Financial Leasing
• Guarantees And Indemnities
• Contractual Breach
• Asset Valuation
• Notice Requirements
• Damages And Set Off

Kirkel v Adams (C.A. 24/1933.)

Kirkel v Adams (C.A. 24/1933.) [1937] EACA 26 (1 January 1937)

Court

East African Court of Appeal

Case number

C.A. 24/1933.

Judge

Horne J, Lucie-Smith Ag CJ (Kenya), Sheridan CJ

The Court of Appeal held that the liquidator failed to discharge the burden of proof required in misfeasance proceedings under section 235 of the Companies Ordinance. The balance-sheet value of assets is not a reliable measure for assessing liability; rather, the actual realizable value at the time of sale is determinative. The evidence presented by the liquidator, including expert opinions and balance-sheet figures, did not sufficiently establish that the assets could have been sold for more than the amount realized. The maxim 'Tantum bona valent, quantum vendi possunt' applies, meaning thin…

Source excerpt

• Director Liability
• Company Winding Up
• Misfeasance Proceedings
• Asset Valuation
• Burden Of Proof