Mukisa Foods Limited v East African Development Bank
Mukisa Foods Limited v East African Development Bank (Civil Suit 615 of 1992) [1995] UGHC 66 (14 November 1995)
The court found that the plaintiff's property was indeed subject to expropriation under the relevant decrees and the Expropriated Properties Act 1982. The management and subsequent encumbrance of the property, including the loan from the defendant bank, were authorised by the board appointed by the government, which acted as the shareholder during the period of expropriation. The plaintiff, upon repossession, was required to accept the property subject to existing encumbrances, including the mortgage held by the defendant bank. The court rejected the argument that the loan was unauthorised, n…
Source excerpt
- Expropriation Of Property
- Company Directors Authority
- Mortgage And Encumbrances
- Repossession Of Assets
- Government Guarantees
- Registration Of Titles