With back-to-back court losses, how panicky BoU officials stampeded a reluctant Mutebile to move Crane Bank into liquidation On November 09th 2020, Bank of Uganda Governor, Professor Emmanuel Tumusiime Mutebile after rejecting a move to progress Crane Bank into liquidation since May 2019, finally agreed to make the move, that many commercial lawyers say is ill-advised. What chances of success does he have and what will be the next move from Dr. Sudhir’s camp?

Prior to 2017 and for a long time, everyone knew Bank of Uganda Governor, Prof. Emmanuel Tumusiime Mutebile as a no-nonsense man. The tough-talking Mutebile, together with her iron-lady Executive Director Bank Supervision, Justine Bagyenda had what seemed like a good game going on. So infallible was Bank of Uganda at the time that when it closed National Bank of Commerce on 27th September 2012 and Global Trust Bank on 25th July 2014 the unknowing public was in deep support. Then on 20th October 2016, BoU placed Crane Bank, the third-largest bank at the time under statutory management, then went…