Lytton Investments (Private) Limited v Standard Chartered Bank Zimbabwe Limited

[2022] ZWSC 55

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Case Details

Court

Supreme Court

Date

30 July 2020

Citation

[2022] ZWSC 55

Judgment No.

SC 55/22

Outcome

unknown

Case Type

Appeal

Bench

Presiding

Gwaunza DCJ

Author

Guvava JA

Full Bench

Gwaunza DCJGuvava JABhunu JA

Areas of Law

Banking LawContract Law

Keywords

uncommitted facilityloan agreementbreach of contractdamagesbanking

Key Issues

{"issue_text":"Whether the court a quo erred in dismissing the appellant's claim for damages on the basis that there was no breach of contract by the respondent","issue_type":"mixed","dispositive":"yes","related_facts":"Uncommitted facility terms, failure to meet deposit covenant, submission of pro forma invoices"}

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Facts of the Case

Background

The appellant company entered into an uncommitted loan facility agreement with the respondent bank for USD160,000 but only accessed USD61,802.50. The appellant claimed damages of USD320,000 alleging breach of contract, while the respondent contended the facility was uncommitted and the appellant failed to meet deposit covenants.

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