In October 2014, Arben Pajaziti, a Kampala businessman, agreed with Be Forward Ltd, a vehicle importation firm, to buy a car worth Shs 31 million. The vehicle was to be shipped to Kampala under cost, insurance, and freight (CIF) terms. Under the arrangement, Pajaziti paid the full purchase price. Another company, Cadam Enterprises, was tasked…
Katuramu & Company, a surveying firm, has been ordered to pay Centenary Bank Shs 521 million for misleading the bank into extending a loan to a client without conducting proper due diligence on the land offered as security. The case started in December 2021 when Hasifa Namulondo applied for a loan of Shs 350 million…
The High Court has ordered Bank of Baroda to release Shs 20 million to 92-year-old Christine Nanfuka, a widow, to cater for her medical and daily needs after her account was frozen amid a dispute with her co-signatory. Justice Dr. Ginamia Melody Ngwatu delivered the ruling in a case where Nanfuka sued the bank and…
The High Court has dismissed a lawsuit brought by businesswoman Margaret Nalubega against Equity Bank after she claimed that the bank delayed in clearing her credit record leading her to suffer a financial loss. The court found that the bank was not solely responsible for delays in clearing her credit record and that Nalubega failed…
