Shumuk Properties Ltd v Guaranty Trust Bank (U) Ltd (Miscellaneous Application No. 231 of 2018) [2018] UGCommC 43 (6 July 2018)
Court
Commercial Court of Uganda
Case number
Miscellaneous Application No. 231 of 2018
The High Court granted a temporary injunction stopping sale of mortgaged property, but made it conditional on the applicant depositing 30% of the higher of the outstanding amount or forced sale value.
Parabot Breweries Ltd (In Recievership) v Standard Chatered Bank (U) Ltd & Anor (Miscellaneous Application No. 208 of 2018) [2018] UGCommC 50 (22 June 2018)
Court
Commercial Court of Uganda
Case number
Miscellaneous Application No. 208 of 2018
The court held that while the applicant sought a temporary injunction to restrain the respondents from selling the mortgaged properties, the grant of such relief is governed by Regulation 13(1) of the Mortgage Regulations 2012, which requires the applicant to deposit 30% of the forced sale value or outstanding amount. The court found itself bound by the Court of Appeal's decision in Ganafa Peter Kisawuzi Vs DFCU Bank Ltd, which precludes the grant of an injunction to an applicant in breach of Regulation 13(1). Although the applicant raised issues of statutory breaches by the respondents, the…
