Indo-Zambia Bank v Fucho Transport and Another (HPC 214 of 2015) [2016] ZMHC 101 (5 May 2016)

IN THE HIGH COURT FOR ZAMBIA AT THE COMMERCIAL REGISTRY HOLDEN AT LUSAKA (Civil Jurisdiction) 2015/HPC/0214 In the matter of: An application known Applicant comprised February Respondents for delivery of possession as Lot No. 25567/M Central as Legal Mortgagee pursuant in the 2014 made 3rd Party Mortgage Deed the Applicant between Province of the property to the to a power of sale 7th the dated and BETWEEN: INDO-ZAMBIA BANK LIMITED AND FUCIIO TRANSPORT LIMITED CHOLA MATAKA APPLICANT 1" RESPOi\DENT 2'" RESPONDENT BEFORE HaN. MADAM JUSTICE PRISCA MATIMBA NYAMBE, SC AT LUSAKA IN CHAMBERS For the Applicant: For the Respondents: Mr. Matiya Ndhlovu Messrs M R N Legal Practirioners Mr. Chola Mataka In Person RULING 1. Order 20 Rule 11 of the Rules of the Supreme Court of England 1999 Edition This is an application brought by the Plaintiff to amend the Judgment of the Court delivered on 7''' December 2015, made Pursuant to Order 20 Rule 11 of the Rules of the Supreme Court of England 1999 Edition. The application was supported by an affidavit together with skeleton arguments of even date. In sum the Plaintiff was asking the Court to correct the figure in the Judgment sum ofK83,000.00 and replace it with the figure ofK941,065.76. 1 note that the Respondent admits the error made in the Judgment of 7''' December 2015. To that extent the application to amend the Judgment is granted. In paragraph 1 of the Judgment the amount due and owing shall be reflected as K941,065.76. The Respondents also submitted that they have reduced the Judgment Debt since the Judgment of 7''' December 2015 and requested the Court to grant them more time within which to liquidate the outstanding balance. 1 have therefore noted the efforts made by the Respondents to reduce the amount owing. 1 consider it appropriate to exceptionally grant the Respondents more time within which to liquidate the outstanding balance. In this regard the Respondents shall be at liberty to pay the outstanding balance of the Judgment Debt within six (06) months from the date of this Ruling. In default the Applicant shall be at liberty to exercise its power of sale of the Mortgaged Property. R2 . . - Costs are awarded to the Applicant, to be taxed in default of agreement. Dated this .•.•;5.~daY of rYl~ 2016 Prisca M. Nyambe, SC JUDGE R3