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…
Supreme Court dismisses with costs, BoU’s application to switch parties in Crane Bank case Supreme Court has dismissed an application by Bank of Uganda to replace Crane Bank (In Recievership) with Crane Bank (In Liquidation), saying that the application was in bad faith and intendend to circumvent facts of the case in which the Central Bank is appealing following two consecutive losses at the Hight Court and Court of Appeal. The justices also reiterated that in law, Crane Bank Limited (in Receivership), Crane Bank Limited (in Liquidation), and Crane Bank Limited are three distinct entities with different rights, powers and obligations.
