Uganda Case Law

Threeways Shipping Services Group Ltd & Anor v Standard Chatered Bank (U) Ltd

Threeways Shipping Services Group Ltd & Anor v Standard Chatered Bank (U) Ltd (Miscellaneous Application No. 1226 of 2016) [2017] UGCommC 55 (21 April 2017)

Court

Commercial Court of Uganda

Case number

Miscellaneous Application No. 1226 of 2016

The High Court granted a 90-day temporary injunction stopping enforcement of mortgage security while the parties pursued mediation in a dispute over alleged misrepresentation and bridge financing.

• Temporary Injunction
• Enforcement Of Security
• Misrepresentation
• Facility Letter Dispute
• Mortgage Realization
• Temporary-injunction

Barrett v Barrett and Others

Barrett v Barrett and Others (Civil Case No. 22 of 1940 (O.S.)) [1940] EACA 29 (1 January 1940)

Court

East African Court of Appeal

Case number

Civil Case No. 22 of 1940 (O.S.)

Judge

Sheridan CJ

The court held that the principle established in In Re Atkinson, Barbers' Company v. Grose-Smith applies: when a trust fund is invested in mortgages that realize less than the total principal and interest due, the proceeds must be apportioned between capital and interest in proportion to the amounts outstanding for each. This ensures rateable equality in the incidence of loss between the life tenant (entitled to income/interest) and the remaindermen (entitled to capital). The court rejected the alternative approach suggested in Smith v. Law Guarantee and Trust Society Ltd., finding the facts…

Source excerpt

• Trusts Of Will
• Apportionment Of Funds
• Mortgage Realization
• Life Tenant And Remaindermen