Supreme Court dismisses Bank of Uganda’s appeal, orders central Bank to return Crane Bank shareholders

Dismissing Bank of Uganda’s appeal, Justice, Prof. Lillian Tibatemwa-Ekirikubinza, of the Supreme Court reminded the Central Bank that the receivership of Crane Bank ended after the expiration of 12 months from the date of takeover by the receiver and that it was a position at common law that where a legal relationship is terminated by effluxion of time then the rights accruing revert back to the owner. PHOTO/ Nicholas Bamulanzeki