In 2012, Shamilah Nakalule and her husband took a loan of Shs 700 million from DFCU Bank. They secured it using several plots of land, including a piece of land at Najjera. Three years later, in 2014, Standard Chartered Bank took over the loan and repaid Shs 600 million. They signed an agreement, and by…
The High Court has ruled it will hear a case involving businessman Haruna Ssentongo, who is accused of attempting to breach a sale agreement for a property in Kisenyi, Kampala. The case started in 2017 when Ssentongo, who was drowning in debt, agreed to sell a property in Kisenyi to Downtown Bags Ltd for $700,000…
Timothy Kayondo and Denis Muguzi have lost their piece of land after they defaulted on a Shs 200 million loan offered to them by Goldmine Finance Limited. The loan was offered at a rate of 48% per year. Justice Susan Odongo of the High Court overturned a lower court’s temporary injunction that had blocked the…
Kampala Club, a leisure place patronised by the powerful and the connected, will not have to pay Shs 166 million that the Uganda Revenue Authority (URA) had assessed as VAT on the membership fees, the High Court has ruled. The decision, delivered by Justice Susan Odongo overturns an earlier ruling by the Tax Appeals Tribunal…
The High Court has ordered the eviction of two school owners from a property in Kisugu, Kampala, after they defaulted on a bank loan. The decision, made by Justice Susan Odongo grants Cairo Bank Uganda possession of the land, which was used as security for the debt. The case stems from a loan agreement in…
