When a state-owned development bank turns into a vampire and receivers/managers turn into villains — the story of Mubende Parents School, UDB and receivers, Kabiito Karamagi and Joshua Ogwal How Uganda Development Bank and its appointed receivers, Kabiito Karamagi and Joshua Ogwal, illegally and ruthlessly, dispossessed Edward Kasole Bwerere Lwanga, the proprietor of Mubende Parents School of his money and school in Mubende town.
LEFT-RIGHT: Patricia Ojangole, the Managing Director of Uganda Development Bank (UDB) and receivers/managers, Kabiito Karamagi and Joshua Ogwal. UDB, together with the two lawyers have been ordered to compensate Mubende Parents Schools for negligently and unlawfully disposing of the school and misusing money attached in foreclosure and a receivership terribly gone wrong.
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
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