debt recovery Archives – CEO East Africa

KCB Bank Wins USD 1.1m Court Battle Against Great Lakes Coffee Executives

Muhereza KyamuteteraLegal & Justice The Big StorySeptember 7, 2025September 7, 2025

The High Court’s Commercial Division has ruled in favour of KCB Bank Uganda Limited in a high-stakes debt recovery case, ordering two former executives of Great Lakes Coffee Company Limited to pay over USD 1.1 million. Hon. Lady Justice Susan Odongo dismissed an application by Great Lakes Coffee Co. Ltd, Andreas Nicolaides, and Stamos Konstatinos seeking unconditional leave to defend a summary suit filed by the bank. The judge found that the applicants had failed to raise any bona fide triable issues, clearing the way for immediate judgment. Background of the Dispute KCB Bank sued the coffee company and its…

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Centenary Bank moves to auction businessman Joseph Kiyimba’s Club Ambiance, other properties over unpaid billions in debt

Paul MurungiThe Big StorySeptember 5, 2025September 10, 2025

Centenary Bank has instructed Banu General Agencies, a firm of auctioneers and bailiffs, to sell properties belonging to city businessman Joseph Kiyimba after he allegedly defaulted on loan obligations. The properties include the famous Club Ambiance in Bakuli, one of Kampala’s most iconic nightspots. According to a public notice issued by Banu General Agencies, the auction will be carried out under the Mortgage Act No. 8 of 2009 and related regulations unless the debtor, Ambiance Distillers Limited, clears the outstanding principal, interest, and related costs before the date of sale. Properties up for auction The notice lists Plot 1481, Block…

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