Ecobank Uganda Limited v King James Comprehensive School Limited & 2 Others
Ecobank Uganda Limited v King James Comprehensive School Limited & 2 Others (Civil Suit 654 of 2017) [2023] UGCommC 211 (15 September 2023)
The court found that the 1st Defendant breached the loan facility agreement by failing to make the required termly repayments and not depositing the stipulated amounts per term, despite the Plaintiff's alteration of the repayment schedule from termly to quarterly. The change in schedule was not properly notified to the Defendant as required by the Bank of Uganda Financial Consumer Protection Guidelines, but there was no evidence that this change affected the Defendant's ability to repay. The Plaintiff did not fraudulently tamper with the account statements, as no discrepancies were proven and…
Source excerpt
- Loan Facility Agreement
- Guarantee Liability
- Breach Of Contract
- Fraudulent Accounting
- Remedies For Breach