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Simbamanyo tycoon loses Shs40b case, hotel, building

Simbamanyo tycoon loses Shs40b case, hotel, building
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DPP recalls file for Simbamanyo case

Daily Monitor Monday April 12 2021 Advertisement The Directorate of Public Prosecutions (DPP) has recalled a case file in which two buyers of prime property which formerly belonged to Simbamanyo Estates Ltd and the bank are facing criminal offences. In October last year, Equity Bank sold Simbamanyo building on Lumumba Avenue to Meera Investments and Afrique Suites Ltd at Mutungo Hill, Nakawa Division, to Luwaluwa Investments Ltd, a real estate firm. The bank sold the property to recover outstanding loans worth $10.8 million (about Shs40 billion). The proprietor of Simbamanyo Estates Ltd, Mr Peter Kamya, filed criminal charges against Mr Ronald Luwangula of Luwaluwa Investments Ltd, the proprietor of Meera Investments Ltd Sudhir Ruparelira, officials of Equity Bank, and lawyers of Katende Sempebwa Advocates.

Simbamanyo asks court to reinstate Shs40b case on sold properties

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. Advertisement 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).

Simbamanyo loses Shs40b case to Equity Bank

Daily Monitor Sunday February 21 2021 Advertisement                              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.

2020: Kanyamunyu guilty, Ham/DTB case scares banks

Daily Monitor Wednesday December 30 2020 Businessman Matthew Kanyamunyu arrives for a hearing of his case at the High Court in Kampala in 2017. He is currently serving a five-year jail term in Luzira prison. PHOTO | ABUBAKER LUBOWA. Summary Businessman Matthew Kanyamunyu is now serving a five-year jail term in Luzira prison for killing children rights activist Kenneth Akena in 2016 near Lugogo in Kampala. Advertisement The year ending saw rather less activity in the courtrooms compared to previous years due to the long lockdown occasioned by the desire to prevent spread of the Covid-19 pandemic. Despite the low activity in the courts, a number of cases dominated the justice system.

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