Tropical Bank Limited v Bwenge Davis (Originating Summons No. 20 of 2024)
Tropical Bank Limited v Bwenge Davis (Originating Summons No. 20 of 2024) [2025] UGCommC 203 (27 June 2025)
The court found that the dispute was properly commenced by originating summons as the facts were not substantially in dispute and the main issue was the construction of the credit facility agreement. The defendant admitted indebtedness and default, and the penalty interest was contractually agreed upon. The plaintiff proved the existence of the contract, breach by the defendant, and the outstanding sum. The vehicle was validly pledged as collateral, and the plaintiff is entitled to foreclose and sell it to recover the debt. Costs are awarded to the plaintiff due to the defendant's breach and…
Source excerpt
- Credit Facility Agreement
- Loan Default
- Chattel Mortgage
- Foreclosure Procedure
- Contractual Penalty Interest