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Ganafa Peter Kisawuzi v. DFCU Bank Ltd

Court of Appeal Civil Application No. 64 of 2016On the interpretation of the Mortgage Regulations requirement for a security deposit on a stoppage of a sale of a mortgaged propert

The Applicant commenced a suit against the bank contesting its action to recover loan monies through a sale of a mortgaged property. The applicant’s suit was dismissed with costs.  He preferred an appeal to the Court of Appeal and also made an application to stay the execution of the High Court decree. The application was dismissed on the basis that the applicant did not make the mandatory security deposit.  The consequent appeal to the Supreme Court was also dismissed with costs.

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