Court orders Shumuk to pay Bank of Baroda Shs16.4 billion in unpaid loan
Shumuk Aluminium Industries has been ordered by the Commercial Court to pay Bank of Baroda more than Shs 16.4 billion after losing a long-running legal battle over unpaid loan facilities. Justice Patience Rubagumya dismissed Shumuk’s case and instead ruled in favour of the bank, finding that the company had defaulted on its loan obligations and…