Latest News

2 min read

Singer Dr Jose Chameleone came out yesterday in an interview with NBS TV to defend his recent actions of denouncing NUP. The Leone Island singer...

LaLiga Matchday 7: Madrid giants tussle for the top spot
3 min read

Real Madrid face Villarreal looking to keep up their perfect start with capital rivals Atletico hot on their heels. It will be a test of...

Premier League Matchday 6: Title rivals City Vs Blues clash before North London derby
1 min read

Manchester City are out for revenge at Chelsea in the Premier League as they look to atone for their Champions League final defeat. The meeting...

Africa CDC: UK travel restrain hurt vaccine drive
2 min read

The African Union's health watchdog Thursday warned that Britain's pandemic travel restrictions could make people across the continent more reluctant to get vaccinated. Under the...

2 min read

The Ministry of Foreign Affairs has recommended a temporary ban of recruitment and export of domestic workers to Saudi Arabia until adequate protection measures are...

1 min read

Afew months ago, TV presenter MC Kats’ social media accounts were hacked and now one of his Instagram pages is being used to expose Judith...

4 min read

Uganda’s immediate past domestic spymaster, Col Kaka Bagyenda, last evening claimed that some state actors were framing him as the mastermind of a spate of...

2 min read

The Anti-Corruption Court sitting in Kampala has Friday sentenced Godfrey Kazinda, the former Principal Accountant in the Office of the Prime Minister to 40 years...

1 min read

As we speak, Lugaflo rapper Fik Fameica is sweating plasma after his ‘daily snack’ dropped their bonk tape on the internet. In the video, which is 10...

2 min read

South Africa's Jacob Zuma, recently granted medical parole, on Tuesday failed to appear in court for the resumption of a graft trial, as prosecutors argued ill...

September 26, 2021

Tycoon Ham Vs DTB: Court Sends Back Case For Fresh Hearing In Lower Court

Tycoon Ham Vs DTB: Court Sends Back Case For Fresh Hearing In Lower Court

 

Court of Appeal has  quashed an earlier ruling by the commercial court which had directed DTB Uganda and DTB Kenya to refund at least Shs 120 billion to businessman Hamis Kiggundu.

Kiggundu had taken DTB to court alleging that it had made illegal withdrawals from his account amounting to billions of shillings.

The businessman had procured a loan from the bank.

In October, the commercial court ruled in Kiggundu’s favor leading to frenzied celebrations.

DTB appealed against the ruling hence the judgment today.

In today’s ruling by the Court of Appeal, the justices referred the case back to commercial court for a fresh hearing.

The justices said the case had been amended several times during the hearing at the commercial, something that was not considered by the High Court.

Kiggundu said the ruling was unfair because DTB Kenya did not have a license that authorizes them to operate here.

He said they are going to appeal to the Supreme Court.

In his October ruling, Justice Henry Peter Adonyo said that the bank violated the Financial Act of 2004 and therefore directed that the Shs120 billion should be paid with the interest of 8% for carrying out illegalities on the Ham’s accounts.

Views: 143