French oil and gas multinational TotalEnergies Marketing Uganda is facing a lawsuit in the Commercial Court. Local engineering contractor Civtec Africa Limited accuses the company of failing to disclose serious…
East Africa is the fastest-growing economic region on the continent. In 2022, Uganda, Kenya and Tanzania attracted over USD13.3 billion worth of foreign direct investment (FDI). This is according to the latest investment report by the business advisory firm Ernst & Young. The report singled out Uganda as having received USD10.2 billion — the highest in East Africa — creating 6,300 jobs. However, a refusal by a Ugandan Commercial Court to respect and enforce a London Court of International Arbitration (LCIA) ruling has turned on the stage lights onto Uganda’s investment climate and may position the country in a bad…
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The Principle Judge Flavian Zeija has directed Justice Stephen Mubiru, not to hear or be allocated any further new cases until he disposes of 170 cases before him. The Principal Judge is the head of the High Court. He also manages the decentralized High Court Circuits as well as Magistrates Courts. The orders were contained in a December 01, 2023 letter (reference PJ/GEN/125/2023), titled “writing of all pending judgments and rulings before continuing with hearing of any other cases before you at the High Court Commercial Division”. “As you may recall, I convened a High Court Performance Review Retreat at…
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Businessman, Patrick Bitature, the CEO and Founder of the Simba Group of Companies, has spoken out about the ongoing commercial dispute between some of the Group Companies and a South African mezzanine financier, saying the issues are being addressed appropriately and that the mentioned companies remain open for business. This is the first direct statement by the billionaire businessman, since a public-auction advert appeared in one of the dailies, purporting to put properties belonging to some Simba Group subsidiaries up for sale, upon instructions by a one, Kirunda & Wasige Advocates. Apparently, the law firm was acting on behalf of…
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The High Court in Kampala has extended, by 3 months, its earlier 6 months injunction against Stanbic Bank’s attempts to enter Maestrol Oil and Gas Solutions – MOGAS Uganda Limited into receivership. This, maintains the 6 months period given to the company, one of the region’s leading operators in the fuels and LPG wholesale and retail markets to secure financing and or investment to enable it to recover from the logistics shocks caused by the Covid-19 pandemic. Founded in 1987, MOGAS is an integrated regional downstream oil marketing company with business operations ranging from international oil trading to marine and…
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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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This morning, a copy of an advert in one of the newspapers, made and is making several rounds on various social media channels, especially WhatsApp. The advert, by Quickway Auctioneers & Court Bailiffs titled: Sale by Public Auction/Private Treaty reads: “Duly instructed by M/S Kirunda & Wasige Advocates, on behalf of their client, the registered mortgagee, we shall proceed to sell by public auction/private treaty, the undermentioned property, under the Mortgage Act, 2009, unless the debtor, mortgagor pays the entire outstanding loan balance and all costs attendant to our clients, within 30 days from the date of this advert, our…
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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 Commercial Court in Kampala has ordered Simbamanyo Estates Limited and proprietor Peter Kamya to pay UGX1. 3 billion worth of legal costs to Equity Bank Uganda and two other companies. Court documents seen by CEO East Africa Magazine indicated that court registrar Elias Kisawuzi ordered Simbamanyo and Kamya to pay UGX600 million to Equity Bank, UGX300 million to Meera Investments Limited and UGX300 million to Luwaluwa Investments Limited. Consequently, court also dismissed six cases earlier filed by Simbamanyo Estates and Peter Kamya. The two wanted the sale and transfer of Simbamanyo House and Afique Suites, cancelled by court. In…
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