Daily Monitor
Wednesday February 24 2021
The order had closed a case which Simbamanyo Estates Limited had filed against Equity Bank (U) Limited, Meera Investments Limited, Luwaluwa Investments Limited and the Commissioner for land Registration.
Summary
Last year Simbamanyo Estates Limited and its proprietor Architect Peter Kamya had sued the four parties alleging fraudulent and illegal sale of their prime property.
Last month, the Directorate of Public Prosecutions (DPP) rejected rejected criminal proceedings against the property buyers and bank officials.
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Simbamanyo Estates Limited have asked the court to reinstate a case in which its proprietors are challenging the sale of its multimillion property as a bank moved to recover outstanding loans worth $10.8 million (about Shs40 billion).
Daily Monitor
Sunday February 21 2021
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KAMPALA- Simbamanyo Estates Limited have lost a case in which its proprietors were challenging the sale of its multimillion property as a bank moved to recover an outstanding loans worth $10.8m (about Shs40 billion).
Ms Lillian Bucyana, the Commercial Division of the High Court registrar, on Wednesday issued the order that the case fails.
“The suit abates for failure to take out summons for directions in time,” reads the February 17 order.
The order halts a case which the company had filed against Equity Bank (U) Limited, Meera Investments Limited, Luwaluwa Investments Limited and the commissioner for Land Registration.