Prime I.K Uganda Limited v Eco Bank Uganda Limited
Prime I.K Uganda Limited v Eco Bank Uganda Limited (Miscellaneous Application No. 852 of 2016) [2017] UGCommC 43 (5 May 2017)
The court found that while the applicant did not deny obtaining credit facilities, there was insufficient disclosure by both parties regarding the amounts owed and the proceeds from the sale of the mortgaged property. The respondent failed to provide particulars of the sale as directed, and the applicant did not specify the amount owed at the time of sale. The court held that the applicant raised plausible defences, including whether statutory procedures under the Mortgage Act and Regulations were followed in the sale of the mortgaged property, and whether the amount claimed was accurate. The…
Source excerpt
- Mortgage Enforcement
- Summary Procedure
- Loan Default
- Statutory Notices
- Valuation Of Security
- Right To Defend