Ken Group of Companies Ltd v Standard Chatered Bank (U) Ltd & 2 Ors (HCT-00-CC-MA 116 of 2012)
Ken Group of Companies Ltd v Standard Chatered Bank (U) Ltd & 2 Ors (HCT-00-CC-MA 116 of 2012) [2012] UGCommC 120 (21 September 2012)
The court found that the Applicant failed to establish any grounds for setting aside the Consent Judgment. Both parties were represented by competent counsel, and the terms of the Consent Judgment were explicit and binding. The alleged misapprehension by the Applicant's representative was unsupported by the evidence, and the Consent Judgment did not expressly state it was a final settlement of the suit, but it was clear that the audit report's findings were final and binding regarding indebtedness. Complaints about the audit report or the auditors' independence were not grounds for setting as…
Source excerpt
- Consent Judgment Review
- Receivership Lifting
- Banking Facility Dispute
- Audit Report Binding Effect
- Contractual Finality
- Estoppel