Huvaz Investment Ltd and Others v Equity Bank Ltd
Huvaz Investment Ltd and Others v Equity Bank Ltd (Miscellaneous Application 159 of 2023) [2024] UGHC 955 (11 October 2024)
The court found that the Eazzystock Financing Loan Form & Contract, signed by both the 1st applicant and the respondent, contains a valid and binding arbitration clause (clause 11) that refers disputes to arbitration in Kenya under Kenyan law. The court held that Section 9 of the Arbitration and Conciliation Act expressly ousts its jurisdiction in matters governed by such an arbitration agreement. The existence of related documents conferring Ugandan jurisdiction does not override the primary loan agreement, which is determinative of the dispute. The court further held that the arbitration ag…
Source excerpt
- Arbitration Agreements
- Stay Of Proceedings
- Contractual Jurisdiction Clauses
- Banking Loans