BoU loses Court of Appeal UGX397bn case against Dr. Sudhir; could face lawsuit of up to UGX600 billion
Businessman Sudhir Ruparelia (centre) together with his son Rajiv Ruparelia and KAA lawyers at the Court of Appeal in Kampala after his second-round Court of Appeal win. KAA has appealed to Bank of Uganda to go to Supreme Court if they are disatisfied with the Court of Appeal ruling insead of making false and inaccurate statements in the media.
Court of Appeal Justices, Alphonse Owiny Dollo; Cheborion Barishaki and Stephen Musota have today agreed with earlier ruling by Commercial Court Judge, Hon Mr. Justice David K. Wangutusi’s August 26th 2019 that a bank in receivership, under the Financial Institutions Act (2004) cannot sue or be sued and therefore and therefore Crane Bank (in receivership) cannot and should not have sued business
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