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January 28, 2021 Written by URN
Bank of Uganda has lost an application in which it sought to join as ‘amicus curie’ (friend of the court), the ongoing appeal by Diamond Trust Bank (DTB) against Ham Enterprises, a company owned by businessman Hamis Kiggundu.
The court was sitting to hear an appeal against a ruling by the High court to the effect that the DTB-Kenya, a parent company of DTB-Uganda was not registered to do business in Uganda, nor appoint DTB-Uganda as an agent to collect debts owed to the Kenyan bank by Kiggundu.
The judgement stemmed from a case filed by Kiggundu, and his two companies Ham Enterprise Limited and Kiggs International (U) Limited against DTB-Uganda and DTB-Kenya, in March last year, accusing them of fraudulently siphoning