Legal & JusticeThe Big Story

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.

Dr. Sudhir Ruparelia and his Meera Investments have continued to defeat BoU severally in court.

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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About the Author

Muhereza Kyamutetera is the Executive Editor of CEO East Africa Magazine. I am a travel enthusiast and the Experiences & Destinations Marketing Manager at EDXTravel. Extremely Ugandaholic. Ask me about #1000Reasons2ExploreUganda and how to Take Your Place In The African Sun.

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