Stanbic, businessman in Shs 11bn legal standoff
May 5, 2021 Written by Derrick Kiyonga The Cessna 5X-AMC at the centre of the legal battle is now flying in DR Congo
Hardly three months after the Commercial court found senior employees of Stanbic bank complicit in illegally selling mortgage securities to themselves, a businessman is pinning the bank staff for frustrating his loan repayment so that they sell off his assets worth more than $3m [Shs 11 billion].
The Observer has obtained court documents and correspondences in which Ronald Lubega Kasozi, through his company Asante Aviation, implicates Stanbic bank staff in a plot to frustrate his loan repayment so that his two aeroplanes and a house are sold on t