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‘Stop Crying For Spilled Milk’-High Court Dustbins Simbamayo Estates Case Against Equity Bank In Loan Dispute
The High Court (Commercial Division department) has dismissed an application by (now ex) administrators of Simbamanyo Estates Limited in which they wanted the auctioning of its prime properties in Kampala which was meant for Equity Bank Ltd to recover outstanding loans worth $10.8 million (Shs40 billion) to be halted. Simbamanyo Estates Limited lost Afrique Suites…
‘Too Late To Revert’- Tycoon Sudhir Responds To Museveni’s Letter On Disputed Simbamanyo House
Property Magnet Dr Sudhir Ruparelia has broken silence on the disputed Simbamanyo House ownership days after the former owner Peter Kamya ran to President Museveni seeking intervention into the sale of their property. Embattled Kamya ran to Museveni contesting Equity Bank’s sale of his property to Tycoon Sudhir in October 2020 for UGX18.5b. However, Equity…
‘Understanding Covid-19 Hardship’-UMEME, ERA Cut Tariffs For Commercial Customers
Uganda’s leading power distributor has announced that Commercial and medium customers will starting January enjoy a slightly reduced power tariff after Electricity Regulatory Authority (ERA) cut the cost while maintaining prices for other customer categories three times in a row. The base end user tariffs valid for the first three months of 2021 are indicating…
‘Unlawful Attempt’- Financial Lawyers Warn BoU On Liquidating Defunct Crane Bank Ltd
The Central Bank through it’s Governor Prof. Emmanuel Tumusiime Mutebile on Friday November 13, 2020 issued an order to liquidate former Crane Bank Limited in receivership which was fraudulently sold to DFCU bank by officials in bank of Uganda in 2016. “In exercise of its powers under section 99 (1) & (2) of the Financial…
‘We Are Here For You’- Boulevard Suites Announces Mega Accommodation Offer, Have a Look!
Located in the heart of Kampala city, Swanky Boulevard Suites, a place for bespoke business and leisure living has announced a mega accommodation offer where a client will only pay $600 per month. According to the Boulevard Suites, the offer will run till 31 August 2021 on all its full furnished apartments that are surrounded…
‘We’ve More Important Matters To Attend To..’ Supreme Court Dustbins Panicky BoU Case Against Tycoon Sudhir & URSB With Heavy Costs
The Supreme Court has dismissed with heavy Costs Bank of Uganda’s (BoU) case in which Crane Bank Limited (CBL) (in receivership) filed an application against Sudhir and URSB seeking for an interim order preventing the businessman from claiming, taking control, repossessing or in any way interfering with the management of CLB or of its receiver…