Gabas Investments Limited v Exim Bank (Uganda) Limited
Gabas Investments Limited v Exim Bank (Uganda) Limited (Miscellaneous Application 2050 of 2023) [2023] UGCommC 194 (15 November 2023)
The court found that the consent judgment was not expressly conditioned on refinancing from MSC or any specific financier. The applicant's obligations under the consent were open-ended regarding sources of funding, and the applicant was expected to pursue all available options. The alleged misapprehension regarding MSC's willingness to refinance was not material to the validity of the consent, as the applicant had actual notice and knowledge that MSC's facility would not be extended at the time of entering the consent. The court further held that no credible evidence of misapprehension of fac…
Source excerpt
- Consent Judgment
- Setting Aside Judgment
- Loan Refinancing
- Secured Transactions