The Commercial Division of the High Court of Uganda has dismissed a USD 400,000 shareholder loan recovery suit filed by businessman and lawyer Charles Odere, ruling that the matter must…
When mega-deals happen, the most visible winners are usually the shareholders who are selling. But in transactions of this scale, there is always a second, less visible layer of immediate…
Miriam Ekirapa Musaali, a distinguished corporate lawyer, governance expert, and Director of Legal and Board Affairs at the Capital Markets Authority (CMA) Uganda, has passed on. She has reportedly succumbed…
The past five years have not gone particularly well for Uganda’s billionaire class. Once the undisputed symbols of local enterprise and ambition, several of the country’s most prominent businessmen have…
The Court of Appeal has upheld a High Court decision ordering Imperial Royale Hotel, one of Kampala’s flagship luxury hotels, to refund government $1.46 million (about UGX 5.05 billion) and…
On 27th November 2021, the New Vision wrote a story on the hire of rental space by Parliament in Kingdom Kampala titled “Parliament on the spot over sh1.3b Sudhir contract”. In that story we are told that the Parliamentary Commission issued a standard bidding document for the hire of 9,030 square metres of office space for two years to Kingdom Kampala Limited, requiring it to, among others, give at least 300 car parking slots on a complimentary basis. However, Kingdom Kampala Limited offered 300 parking slots on a chargeable basis at UGX 54,900,000 per month, totalling UGX 1,317,600,000 for the…
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The Assistant Registrar to the Supreme Court has dismissed an application by businessman Hamis Kiggundu’s camp, that sought to delay an imminent ruling in the UGX120 billion case that could make or break his business empire. Supreme Court’s Didas Muhumuza in a 1st December 2021 letter to Ham’s lawyers―M/S Muwema & Co Advocates and Solicitors declined to grant an application for Judgment on admission by Ham’s lawyers saying there was nothing materially new in Ham’s application and that all matters raised therein would be addressed in the imminent main appeal lodged by the businessman. “The above Civil Miscellaneous Application No….
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The wheels of justice turn slowly, but grind exceedingly fine, Bank of Uganda has sadly learnt, albeit too late. This is after pouring several billions of taxpayer money, down the pockets of several of its highly billed external law firms, in what would eventually amount to putting good money after bad money. But let us rewind the clock first, back to 2016. The Central Bank, on 20th October 2016, at the command of the then Deputy Governor, Dr Louis Kasekende and Director of Commercial Bank Supervision, Justine Bagyenda, in the exercise of their statutory powers, seized Crane Bank, at the…
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Financial services firm, Global Capital Save 2004 Ltd, its sister company, Rutungu Properties Ltd together with their proprietor and Chairman, businessman Ben Kavuya have said they are dissatisfied with the Court of Appeal ruling on a dispute involving two city properties and shall proceed to seek justice in the Supreme Court. The case stems from a 2007 transaction in which financial services firm, Global Capital Save 2004 Limited says it bought properties, comprised in Block 236 Plot 2062 Kyadondo (land at Bweyogerere) and Vol 2965 Folio 18 Plot 17 Bunyoyi Lane (land at Kataza Kiswa) from a one Wakanyira…
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The High Court Land Division has dismissed a case in which City Business man Fulgence Kalibbala had claimed ownership of land belonging to the family of the late Prince Badru Kakungulu. The land in contention is located on block 208 plot 4579 at Kawempe Ginery. Kalibbala, through his Lawyers Jamiru Mujurizi and Derrick Muhumuza Kahima, had argued that he bought the said land over UGX2 billion from dfcu Bank. This is after failure by Tuff foam Uganda Ltd to service a loan issued to it by Crane Bank there by giving dfcu Bank which took over Crane Bank; the mandate to…
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After several court losses, the Bank of Uganda has withdrawn its UGX397 billion case against Dr. Sudhir Ruparelia and his Meera Investments Limited. The case had now reached at Supreme Court, following BoU’s losses with costs, at both the Commercial Court and Court of Appeal. Both courts had ruled that Crane Bank (In receivership) has no locus to sue since the Financial Institutions Act 2004 only allowed Banks in liquidation and statutory management to sue and be sued. The court ruled that a bank under receivership cannot sue. The two Courts also ruled that Crane Bank (In Receivership), over and…
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Hon. Justice David Wangutusi of the High Court, Commercial Division has sentenced troubled businessman, Architect Peter Kamya to refund UGX1.3 billion that he received for selling land that he failed to transfer to the buyers. Court also ordered him to refund the money with a 25% interest per annum since October 2016- an additional UGX1.6 billion! Court has also awarded Bahamas Limited, general damages of UGX80 million at 6% interest per annum from 26th February 2021, the date of judgement. Bahamas Investment Ltd, in November 2015, sued Mr. Kamya, for the recovery of UGX 1,300,000,000/= as money deposited by Bahamas…
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Yesterday, 12th August 2021, five Supreme Court Justices unanimously dealt a death blow to Bank of Uganda’s legal strategy, that if successful, would have reversed the several losses the Central Bank has suffered at the hands of businessman Dr Sudhir Ruparelia and his Meera Investments Ltd. The 5 justices, Rubby Opio-Aweri, Faith Mwondha, Dr Lillian Tibatemwa, Ezekiel Muhanguzi and Percy Night Tuhaise in unison dismissed BoU’s bid to substitute Crane Bank (In Receivership) with Crane Bank (In Liquidation), a move the justices said would fundamentally alter the facts the case and deny both Dr. Sudhir and Meera a chance at…
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High Court Judge, Hon. Lady Justice Susan Abinyo has today, dismissed an appeal by businessman, Peter Kamya and his Simbamanyo Estates to overturn the foreclosure of his properties by Equity Bank Uganda Limited, yet again. This time court dismissed his application over his lawyers’ failure to present written instructions to represent the businessman, as is required by law. As a result, the court dismissed Miscellaneous Application No. 224 of 2021 that sought to stop the October 2020 sale. “For the aforementioned reasons, this appeal is struck out with the following orders: Miscellaneous Appeal No. 3 of 2021 for setting aside…
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The High Court has ruled that state minister for transport, Joy Kabatsi acted illegally to direct the Uganda Civil Aviation Authority (UCAA) to send on forced leave its former director of human resource and administration in May last year. Justice Musa Ssekaana held that the decision of the Minister requesting Jabbe Pascal Osinde Osudo to go on forced leave in absence of the Board was unlawful. The judge, however, ruled that the Court could give any orders affecting Osudo’s employment since he was no longer in the same employment after his job was already terminated following a case in regard…
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