MARECO LIMITED V. FUTURE LIMITED & HUAWEI TECHNOLOGIES LIMITED

JUDGMENT OF THE COURT

1. By a master factoring agreement (factoring agreement) dated 25^th March, 2015 Mareco Limited (the appellant) agreed to purchase from time to time upon such terms thereunder debts owing to Green Future Limited (the 1^st respondent) in respect of goods or services rendered to third parties. In an effort to facilitate efficient realisation of the factoring agreement, the 1^st respondent vide a power of attorney of even date granted the appellant complete control of operating its bank account number [Particulars Withheld] held with the Commercial Bank of Africa. In addition, the 1^st respondent directed one of its debtors, Huawei Technologies Limited (the 2^nd respondent) through an irrevocable direction to pay executed on 12^th April, 2013 to remit all payments due to it into the aforementioned account.

2. Subsequently, pursuant to the factoring agreement the 1^st respondent assigned to the appellant several invoices owing and due from the 2^nd respondent aggregating to Ks…