In what promises to be a long multi-billion legal battle pitting billionaire Sudhir Ruparelia largely against Bank of Uganda, his former bank Crane Bank (in receivership) and Dfcu Bank, who took it over, the businessman has yet again dragged Dfcu Bank to the commercial court, this time for breaching contracts it inherited from Crane Bank.
When it comes to throwing spanners in the works, Andrew Mwenda has never been known to shy away. So it wasn’t a surprise that the journalist has questioned the deal in which Crane Bank was taken over by Dfcu Bank, facilitated by Bank of Uganda, stunk.
“It smirks of fraudulent collusion between BoU, its lawyers and Dfcu. Many companies lined up to buy Crane Bank as a going concern but BoU refused. Why?