Oil Seeds (U) Limited v Uganda Development Bank
Oil Seeds (U) Limited v Uganda Development Bank (Civil Appeal 9 of 2009) [2010] UGSC 35 (22 December 2010)
The Supreme Court held that the arbitration award of Shs. 2,882,400,000/= in favour of the appellant became unenforceable due to the voluntary settlement agreement entered into by both parties and endorsed by the Registrar. The settlement expressly resolved all disputes arising from the arbitration, including both the claim for Shs. 1,023,644,800/= and the award of Shs. 2,882,400,000/=. The appellant and its lawyers received the agreed payments, and the appellant was estopped from seeking further enforcement of the award or interest. The court found that, under the repealed Arbitration Act an…
Source excerpt
- Arbitration Award Enforcement
- Settlement Agreements
- Powers Of Registrar
- Remission Of Award
- Interest On Award