Uganda Case Law

Kanoblic Group of Companies Ltd vs Sugar Corporation (U) Ltd

Kanoblic Group of Companies Ltd vs Sugar Corporation (U) Ltd (Civil Appeal No 34 of 1997) [1998] UGCA 12 (26 June 1998)

Court

Court of Appeal of Uganda

Case number

Civil Appeal No 34 of 1997

The Court of Appeal held that compound interest was not implicit in the arbitration award, as there was no express agreement or custom between the parties to allow it, nor was the relationship that of banker and customer. The award and pleadings were silent on compound interest, and the subsequent interpretation by counsel could not lawfully alter the terms of the award. The Registrar's certificate awarding compound interest was set aside as unlawful. The court found that only simple interest at 30% per annum was applicable, and recalculated the sums due, determining that the appellant had ov…

Source excerpt

• Arbitration Award Enforcement
• Interest On Judgment Debt
• Compound Vs Simple Interest
• Garnishee Proceedings

Kanoblic Group of Companies Uganda Limited v Sugar Corporation Uganda Limited

Kanoblic Group of Companies Uganda Limited v Sugar Corporation Uganda Limited (Civil Appeal 34 of 1997) [1998] UGCA 39 (26 June 1998)

Court

Court of Appeal of Uganda

Case number

Civil Appeal 34 of 1997

Judge

kato ,JA, Okello, JA, Berko, JA

The Court of Appeal held that an arbitration award for 30% interest was simple, not compound interest, and adjusted the sums payable accordingly.

• Arbitration Award Enforcement
• Interest On Judgments
• Compound Vs Simple Interest
• Banker Customer Relationship
• Execution Of Decrees
• Arbitration-awards

Sugar Corporation Of Uganda Limited v Kanoblic Group Of Companies Limited

Sugar Corporation Of Uganda Limited v Kanoblic Group Of Companies Limited (Miscellaneous Application 653 of 1996) [1997] UGHC 15 (26 February 1997)

Court

High Court of Uganda

Case number

Miscellaneous Application 653 of 1996

Judges

Mukasa Kikonyogo, j

The court found that the arbitration award expressly provided for interest at the rate of 30% per annum but did not specify that such interest should be compounded. There was no basis, either express or implied, for awarding compound interest. The Deputy Registrar erred in issuing a certificate of interest based on compound interest calculations. The total decretal amount and simple interest had already been paid to the respondent/judgment creditor from the security deposited into court, resulting in an excess payment. The respondent is not entitled to compound interest, and any excess paid m…

Source excerpt

• Arbitration Award Enforcement
• Interest Calculation
• Compound Vs Simple Interest
• Garnishee Proceedings