Simbamanyo tycoon loses Shs40b case, hotel, building monitor.co.ug - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from monitor.co.ug Daily Mail and Mail on Sunday newspapers.
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).