Commercial Court Uganda Archives

Justice Mutesi gives Emin Pasha hotel until Oct.10 to raise UGX 9.7 Billion deposit on UGX 34 Billion Equity Bank debt

Paul MurungiThe Big StoryAugust 15, 2025January 20, 2026

The High Court’s Commercial Division has given Emin Pasha hotel and its affiliates breathing room in their mortgage fight with Equity Bank, extending the hold on the sale of the…

Foreign banks do not require central bank authorisation to lend to Ugandan entities; Bank of Uganda clarifies on controversial court ruling

Muhereza KyamuteteraBanking & Financial Services The Big StoryOctober 14, 2020October 14, 2020

Professor Emmanuel Tumusiime Mutebile, the Governor, Bank of Uganda has unequivocally said that foreign financial institutions that do not use locally-raised deposits to lend to Ugandan entities do not require the authorisation of the central bank to be able to lend locally. Although he did not directly refer to the ongoing Hamis Kiggundu vs. DTB Uganda and DTB Kenya, the Governor, was obviously referring to the recent controversial Commercial Ruling by Justice Henry Peter Adonyo in which he ruled that DTB Kenya had flouted the Financial Institutions Act 2004 when it lent USD4.5 million to businessman Hamis Kiggundu of Ham…

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HAM vs DTB: Does a foreign lender to a Ugandan business require a licence? Expert lawyers point out the four errors made by court

Muhereza KyamuteteraBanking & Financial Services The Big Story Thought LeadershipOctober 14, 2020October 14, 2020

By Phillip Karugaba , Rachel Musoke , Rehema Nakirya Ssemyalo and Anita Kenyangi The recent controversial decision in Ham Enterprises v Diamond Trust Bank (U) and Diamond Trust Bank (K) Ltd has shaken up Uganda’s banking and finance sector, with many foreign lenders demanding clarity on the matter. Background This is a classic case of borrowing in sunny times, then defaulting and a bitter court battle ensuing when the lender tries to take back its proverbial umbrella during the storm. The plot thickens here. Diamond Trust Bank (K) Ltd, (“DTBK”) is a Kenyan financial institution and parent company to its co-lender, Diamond Trust Bank (U) Ltd. (“DTBU”). Ham Enterprises…

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LEGAL REVIEW: Vivo Energy wins case against URA as court confirms rent paid in respect of leases as an allowable deduction

Damalie TibugwisaThought LeadershipMarch 28, 2020March 28, 2020

For any business, the Income Tax Act [“ITA”] allows the deduction of certain expenses before charging tax. To qualify, these expenses must be of a revenue and not of a capital nature; revenue nature in the sense that the expenses are directly incurred in the production of revenue. However, it is not always easy to determine whether an expense is of a revenue or capital expenditure. This was recently evident in the case of Vivo Energy Uganda Ltd Versus Commissioner General of Uganda Revenue Authority: Civil Appeal No. 1 of 2019 which was decided on the 9th day of March…

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