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 $1.46 million (about UGX 5.05 billion) and…
Simba Properties Investment Co. Ltd has broken silence over a public auction advert that appeared in the Daily Monitor today, purporting to put up its properties for sale, dismissing the advert as a “malicious illegality”, an “abuse of the court process” as well as a “misguided and unprofessional conduct” by the bailiffs/auctioneers and the lawyers for whom they purport to represent. The group has advised its stakeholders and the public to ignore the said impugned advert. In a public notice, issued on the company’s behalf, by its lawyers, M/S Muwema & Co Advocates, Simba Properties Investment Co. Ltd warns “anyone…
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Justice Richard Wejuli Wabwire, of the Commercial Court, has found that Uganda Development Bank (UDB), unlawfully sold the property of their client, Mubende Parents School; illegally appointed Kabiito Karamagi and Joshua Ogwal of Ligomarc Advocates as receivers/managers, to recover a debt that did not exist. Their unlawful appointment aside, the two receiver/managers, according to court, also went ahead to unlawfully attach monies on the school’s bank accounts as well as unlawfully dispose of the remaining properties of the school and as if that was not enough, they misused and failed to properly account for the funds ‘grabbed’ from Mubende Parents…
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The High Court in Kampala ordered Aya Investment (U) Ltd (Defendant) to pay Sanlam General Insurance (U) Ltd (Plaintiff) US$ 38,773.17 and UGX 33,655,264/= as the sums outstanding for breach of insurance contracts. The embattled company has also been ordered to pay the Plaintiff general damages of UGX. 5,000,000/ = Giving her judgement on April 12, 2022, Justice Jeanne Rwakakooko also granted Sanlam General Insurance an interest of 10% per annum from date of default until payment in full. The court heard that the Defendant took out various insurance policies with the Plaintiff in the years 2018-2019 including Assets All…
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The High Court Kampala on April 12, 2022 dismissed with costs an application in which Uganda Revenue Authority (URA) had appealed against the ruling by Tax Appeals Tribunal in favour of M-KOPA Uganda Ltd. In 2017, M-KOPA Uganda Ltd filed a suit against URA before the Tax Appeals Tribunal vide TAT Application No. 15 of 2017 contesting a tax assessment of UGX. 429,603,357/= on solar equipment imported and supplied by the same company, the case that M-KOPA subsequently won. URA later appealed to the High Court, expressing its dissatisfaction with the tribunal’s decision. The application sought for orders that: 1)…
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Dei Minerals International proprietor Mathias Magoola has opened a defamation case against Igara East Member of Parliament Michael Mawanda, alleging malicious falsehoods through the media. Documents and letters on court record show that TASKK Advocates, Magoola’s lawyers have written to MP Mawanda over alleged defamatory and frivolous media stories, noting that his reputation as businessmen has been shattered beyond repair. “The integrity and credibility built by the plaintiff through his vast nature of both external and internal financiers, investors, clientele, employees, relatives, friends, in-laws during a span of time was shattered due to authoring, editing and publishing of frivolous, fictitious…
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The Commercial Division of the High Court has set aside the execution of the warrant of arrest against the managing director of Dei Minerals International, Mathias Magoola in a case where a former minister wants to be paid UGX268 billion in legal fees. While setting aside the arrest warrant, High Court Judge Anna Mugenyi questioned the manner in which the former minister of Urban Development Isaac Musumba, and his lawyers obtained the warrant, saying its execution would disadvantage Magoola. Musumba had represented Dei Minerals International in a legal dispute, which saw his clients claim a compensation of $241 million (over…
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Minutes after legally slaying Bank of Uganda, for the nth time, but this time for good, Dr. Sudhir Ruparelia, has hit at certain officials of the central bank for stealing his bank, unnecessarily dragging him to court and prolonging the case for selfish gains. “These people stole my bank. They shared the legal fees in Bank of Uganda,” a bullish Dr. Sudhir charged. “In my opinion- the legal department of the Central Bank has become so corrupt, that they prolong these cases so that when they pay their lawyers the high fees, they share the fees. And that is why…
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Five Justices of the Supreme Court have today unanimously delivered the last stroke that has broken the back of Bank of Uganda’s 5-year failed attempt to sue billionaire businessman, Dr Sudhir Ruparelia and his Meera Investments Limited (MIL) over the closed Crane Bank. Well, the Bank of Uganda had already consented that it had a bad case ― they on 15th September 2021 notified the Supreme Court of their intention to withdraw the multi-billion dispute, so today’s ruling was really about who should pay the costs, a bid the central bank again lost, adding to a pile-load of other losses…
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By Claire Amanya Rukundo-Kakeeto & Frank Rovin Wadidi Two weeks ago, Ugandan schools finally reopened their classrooms for learners after two years of closure because of the Covid-19 pandemic. It was a world breaking record that was broadcast on almost every news channel worldwide. According to the Education Abstract—2017, at least 10,246 of these are privately owned businesses and responsible for the direct employment and livelihood of at least 116,390 teaching professionals. With the only income from the termly school fees completely gone during the unexpected closure, it has obviously not been possible for these privately-owned schools to meet their…
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Troubled businessman, Architect Peter Kamya of Simbamanyo Estates has admitted having cheated court filing fees and rushed to court to pay UGX 81,750,000 as his court bid to win back two foreclosed properties- Simbamanyo House and AfriSuites Hotel. Last week, we reported that Walusimbi & Co. Advocates, the lawyers representing Meera Investment Limited (MIL) the company that bought Simbamanyo House from Equity Bank had raised a red flag to court on the fact that Peter Kamya had cheated court on the filing fees. “We are aware that in both HCCS No. 837 of 2020 which was abated and in the…
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