What was set to be a blockbuster legal battle could end on a whimper after last week’s Supreme court ruling dismissed an application by the Bank of Uganda to amend its appeal Sudhir Ruparelia and Meera Investments Ltd. The protracted legal war, which started in 2017 after BOU’s closure of Crane bank, had a significant…
The Supreme Court has dismissed an application in which Bank of Uganda sought permission to amend the Memorandum and record of appeal before hearing the Crane Bank appeal case. Bank of Uganda wanted substitute Crane Bank Limited (in receivership) with Crane Bank Limited (in liquidation), saying it is still a licenced financial institution under resolution…
The High Court has ordered the Attorney General to file his response in the matter where a renowned Journalist Mukose Arnold Anthony is challenging the appointment of Dr. Tumubweine Twinemanzi the Director of Supervision in the Bank of Uganda. The order follows respondent’s failure to file their response to preliminary objections they raised. According to…
The Uganda Court of Appeal has with costs dismissed Bank of Uganda’s (BoU) appeal in which it had sought to challenge a labour court decision that awarded hundreds of millions to its five former employees. The five; Joseph Kibuuka, George Tabu, Nelson Kibuuka, Wilson Segane and Abubaker Wasswa were retrenched in 2010 in a job…
Michael Maranga Mawanda the Igara East legislator has presented Constitutional Amendments Bill 2020 on the leadership composition at the Bank of Uganda (BoU). Mawanda’s bill comes after reports from the Public Accounts Committee (PAC) and Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) and the special audit report of the Auditor General on the…
A disgruntled whistleblower has petitioned the President of Uganda Yoweri Kaguta Tibuhaburwa Museveni seeking to investigate and prosecute former executives of Bank of Uganda (BoU), over allegations of involving themselves in corruption and the fraudulent sale of seven defunct banks. The petitioner, Sam Brian Kakuru, wants the president to institute an investigation into the operations…
Bank of Uganda has officially quit the case involving city tycoon Hamis Kiggundu alias Ham and Diamond Trust Bank, in which he accuses the financial institution, together with its parent bank, Diamond Trust Bank Kenya, of illegally withdrawing over Shs128Bn from his company accounts. Bank of Uganda had applied to join the case as Amicus…
Former Bank of Uganda deputy governor Dr . Louis Kasekende, whose tenure was mired with gross abuse of office and allegations of corruption, might have been kicked out of the Central Bank but credible sources within reveal that he still has there Moles. One of Kasekende’s top Moles at BoU, according to our sources in…
Bank of Uganda (BoU) lawyers led by Margaret K Kasule have implored their boss, the governor, Prof. Emmanuel Mutebile to personally reach out to the Attorney General William Byaruhanga asking him to urgently constitute a team of excellent government lawyers to join them in arguing and prosecuting their anti-Sudhir Ruparelia appeal case in the Supreme…
On November 9, Bank of Uganda (BoU) announced that it had commenced Crane Bank’s liquidation in a notice signed by Profesor Emanuel Mutebile the Central Bank’s Governor. “Bank of Uganda (BoU) took over management of Crane Bank Ltd (CBL) on October 20, 2016 and subsequently progressed it into receivership on January 24, 2017. In exercise…
