Patience T.E. Rubagumya

The High Court’s Commercial Division has granted businessman Thomson Ricky Rapa unconditional leave to defend himself in a high-stakes loan dispute with Ecobank. The ruling spotlights the handling of insurance-linked loan facilities by commercial banks. Presiding Judge Patience T.E. Rubagumya ruled that Rapa had presented bona fide triable issues deserving of a full hearing after he claimed that his UGX 180 million salary loan from Ecobank was insured against loss of income, a position the bank flatly denied. Background to the dispute Court documents show that Rapa applied for a salary-backed loan of UGX 180 million from Ecobank on March…