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TodayMonday, May 04, 2026

Crane Bank (In recievership)

Dfcu Bank and related parties are being accused of corruptly and illegally conspiring with the central Bank to strip the Crane Bank shareholders of their bank.

Sudhir vs. dfcu Bank: London appellate court orders dfcu and its former managers to pay UGX8.8 bn in costs

A London Court of Appeal has ordered dfcu Bank, its holding company, dfcu Limited, as well as dfcu Bank’s former board chairman, Jimmy Mugerwa (now dfcu Limited Chairman), Juma Kisaame and William
July 27, 2023
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Dismissing Bank of Uganda’s appeal, Justice, Prof. Lillian Tibatemwa-Ekirikubinza, of the Supreme Court reminded the Central Bank that the receivership of Crane Bank ended after the expiration of 12 months from the date of takeover by the receiver and that it was a position at common law that where a legal relationship is terminated by effluxion of time then the rights accruing revert back to the owner. PHOTO/ Nicholas Bamulanzeki

Supreme Court dismisses Bank of Uganda’s appeal, orders central Bank to return Crane Bank shareholders

Justice, Prof. Lillian Tibatemwa-Ekirikubinza, of the Supreme Court has today dismissed Bank of Uganda’s attempts to hold on to Crane Bank Limited and ordered that the company be returned to its shareholders
July 1, 2022
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Following a lengthy court process that exposed both the incompetence of the legal team at the central bank and the massive flaws within its regulatory practices especially in the way several banks were taken over, closed and sold, under Mutebile’s watch or lack thereof, the central bank’s much publicised case against the billionaire businessman has crumbled like a pack of cards. It remains to be seen how much more the central bank will lose in terms of legal costs.

FINITO: BoU case against Dr. Sudhir Ruparelia suffers its worst defeat as Supreme Court declares move to liquidate Crane Bank (In Receivership) illegal

Just weeks after Bank of Uganda withdrew its UGX397 billion Supreme Court case against Dr. Sudhir Ruparelia and his Meera Investments Limited, today the Supreme Court handed the central bank, yet another
October 4, 2021
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Dr. Michael Atingi-Ego (left), the Deputy Governor chaired the meeting and in attendance was Dr. Tumubweinee Twinemanzi, Executive Director Supervision (2nd left), Susan Kanyemibwa, (2nd right), the Bank Secretary; and Ms. Margaret K. Kasule the Legal Counsel (right).

EXCLUSIVE: Details of Bank of Uganda meeting that approved the controversial liquidation of Crane Bank

Despite having chaired a meeting that resolved that Bank of Uganda should await a Supreme Court’s decision on the transition of Crane Bank Limited from receivership to liquidation, the Deputy Bank Governor
November 18, 2020
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LEFT-RIGHT: Former BoU Deputy Governor, Dr. Louis Kasekende, former Executive Director, Supervision, Mrs Justine Bagyenda and Governor, Prof Emmanuel Mutebile. Kasekende and Bagyenda were variously accused of negligence in the variously gone-wrong bank closures.

ROGUE REGULATOR? A timeline of how BoU asset-stripped, took over and illegally sold Crane Bank but is now being choked by the long arm of the law

2015: For much of 2015, interest rates rose sharply, opening the year at an average 21.69% and by February 2016, had reached a 4-year high of 25.22%. This was partly due to
June 26, 2020

 

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