The Execution and Bailiffs Division of the High Court in Kampala has halted the execution of an earlier order in which city businessman, Abu Mukasa was supposed to pay Alshafi Investments over a bounced cheque case.
Mukasa and his business associates in 2012 drew a cheque equivalent to shs106 billion in favour of Alshafi Investments Limited but upon representation at Abu Dhabi Islamic Bank, the cheque was returned for lack of sufficient funds prompting the company to drag the businessman to court.
The Abu Dhabi court later directed that Mukasa and his associates pay the shs105 billion with a 30% interest.
Later, Alshafi Investments went to the Civil Division of the High Court in Kampala for a declaration that the judgment entered in Abu Dhabi be enforced in Uganda and application that was granted and Mukasa’s title deeds were subjected to an attachment.
However, Mukasa applied for a stay of execution of the attachment of his title deed pending the hearing of his appeal by court.
In his application for stay of execution, Mukasa told court that he had appealed against the earlier judgment and he would suffer a substantial loss is court didn’t halt the earlier orders.
Last month, Justice Elizabeth Kabanda issued an order staying the execution saying that it is wise to wait for the outcome of the appeal by the businessman.
“Finally, the application is allowed conditionally. The applicant is ordered to deposit 30% of the decretal sum totaling to AED 44,790,646(approximately shs45 bn shillings) in the equivalent of dollars in cash payable directly in court within 30 days from the date of this order,” Justice Kabanda directed.
Abu Mukasa was the only Ugandan official shareholder in Orange Telecom that was eventually sold to Africell.
It is believed that Alshafi Investments Limited is trying to portray Abu Mukasa as a conman by leaking an earlier court ruling through the media.
Credit: Nile Post