Browsing: BOU CRANE BANK SAGA

Big Story: London Appellate Court Orders Embattled Dfcu Bank, Its Former Managers To Cough Over UGX8.8 Billion In Costs To Crane Bank Shareholders

A London Court of Appeal has ordered dfcu Bank, its holding company, dfcu Limited, as well as dfcu Bank’s former board chairman, Jimmy Mugerwa (now dfcu Limited Chairman), Juma Kisaame and William Sekabembe, the bank’s former Managing Director and Executive Director respectively, to pay shareholders of the former Crane Bank Limited (CBL), £1,875,000 (UGX8.8 billion)…

Crane Bank Shareholders On Cloud9 Again Over UK Court Ruling, Vow To Milk Billions From DFCU Bank Over ‘Fraudulent’ Takeover, Disturbing Their Peace!

Crane Bank and its shareholders are on cloud nine following a Wednesday ruling where the Court of Appeal from the High Court of Justice, Business and Property Courts in England, overturned the lower court’s decision, which had exonerated DFCU bank and its shareholders from accusations of fraudulently taking over Crane Bank. In a statement inked…

‘They Should Be Put On Cross For Agonizing a Stable Institution’- Panic As London Court Calls For Prosecution of Corrupt BoU Officials Who Conspired With Struggling DFCU To ‘Steal’ Crane Bank

3 revered judges of the Court of Appeal in London are astonished that a group of dubious, corrupt and deceitful officials from the Bank of Uganda who designed a plan to steal and sell off Crane Bank Limited (CBL) are not in prison. And one of the recommendations highlighted in the Wednesday judgment by the…

DETAILS: What You Didn’t Know About The UK Court Ruling That Will See Tycoon Sudhir Pocket More UGX795 Bn In The Dfcu-Crane Bank Case

City Tycoon and Banking Mogul Dr Sudhir Ruparelia, together with six (6) other stakeholders of the now-defunct Crane Bank are set to pocket billions after a major victory against DFCU Bank in an England court. The other appellants are; Jyotsna Ruparelia (Sudhir’s wife), Meera Ruparelia, Rajiv Ruparelia, Tom Mugenga and Sheena Ruparelia. The sixth appellant…

But Why Has BoU Delayed To Pay Sudhir Billions Wasted In Bogus Case? Full Torch Into Court’s Decree Directing BoU To Stop Zigzagging

In the Supreme Court ruling delivered by Hon. Chief Justice Prof. Lillian Tibatemwa-Ekirikubinza JSC (as a single judge), on 1st July 2022, re-emphasized that once a company is placed under receivership, it doesn’t lose its legal existence-another loss for Bank of Uganda (BoU). This ruling came out of a failure by the two parties in this…

MPs Demand For Action Against Ex BoU Officials Implicated In The Fraudulent Sale Of Seven Defunct Banks

MPs have continued to demand for the action against Bank of Uganda (BoU) officials who were implicated in the sale and acquisition of seven defunct banks. In 2018, MPs on parliamentary Committee on Commissions, Statutory Authorities and State Enterprises (COSASE) made the recommendation in their report following a recent probe of BoU on the closure…

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