Crane bank

UK Supreme Court dismisses attempts by dfcu Bank to block ￡170 million claim by shareholders of former Crane Bank

by Muhereza KyamuteteraCommercial JusticeNews & AnalysisThe Big StoryJanuary 8, 2024November 1, 2024

The Supreme Court in the United Kingdom has dismissed attempts by Uganda’s dfcu Bank and its shareholders, to block a ￡170 million (UGX825.8 billion) suit brought against them by shareholders…

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We will relentlessly pursue dfcu Bank and its owners in English courts⏤ Crane Bank shareholders vow after London win

by Muhereza KyamuteteraIndustry & AnalysisNews & AnalysisThe Big StoryJuly 30, 2023July 30, 2023

Fresh from securing an English appellate court order that dfcu Bank, its former management and directors, must answer claims that they participated in corruption and bribery of Central Bank officials…

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Youth Group petitions Museveni over ‘Tax payers’ Money Wastage’ in Court case between BoU and Sudhir

by Samuel MuhimbaThe Big StoryJuly 22, 2020July 22, 2020

A group of youths under the Poor Youth Network have petitioned the President Yoweri Museveni over what they have termed as ‘excessive legal  fees payments’  in court case between the…

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MOMENT OF TRUTH: Court to rule on Sudhir’s application to dismiss BoU’s UGX397bn against him on Monday, August 26

by Muhereza KyamuteteraCommercial JusticeAugust 24, 2019August 24, 2019

Commercial Court’s Hon Mr. Justice David K. Wangutusi, will on Monday August 26th rule whether the case brought against city businessman and Ruparelia Group Chairman, Dr. Sudhir Ruparelia by Bank…

Bad and barred: Sudhir’s lawyers punch further holes in BoU’s case against businessman

by Muhereza KyamuteteraCommercial JusticeCompany NewsThe Big StoryMay 6, 2019May 6, 2019

City Businessman and billionaire Dr Sudhir Ruparelia, has applied to the Commercial Court to dismiss a case brought against him and his real estate firm, Meera Investments Ltd by Bank…

Cornered by COSASE, BoU’s Kasekende pleads with Auditor General to submit previously ‘missing’ evidence on BoU’s UGX478bn liquidity support

by Muhereza KyamuteteraCompany NewsThe Big StoryApril 5, 2019April 6, 2019

The Auditor General (AG) Mr John F.S Muwanga, has declined to consider documents from Bank of Uganda that could hold clues to how UGX270bn out of the UGX478.8bn that was allegedly used to recapitalise the defunct Crane Bank was used, because they were submitted late. According to a leaked letter from the office of the Auditor General, that this news…

Exposed: Was Bagyenda in cahoots with dfcu Bank officials and lawyers to illegally transfer Shs570 billions of Crane Bank’s bad loan book?

by Muhereza KyamuteteraThe Big StoryNovember 5, 2018November 5, 2018

A letter, said to have been authored by disgraced former Bank of Uganda, Executive Director, lifting key anti money laundering reporting requirements for dfcu Bank in regard to a Shs570…

2 years after Crane Bank closure; 6 things we now know that we didn’t know then

by CEO ReporterCommercial JusticeCompany NewsThe Big StoryOctober 20, 2018October 21, 2018

On this day, 2 years ago on October 20, 2018, Bank of Uganda took over the management of Crane Bank- pursuant to “Section 87(3), 88(1)(a) & (b) of the Financial…

Did BoU illegally transfer Crane Bank’s bad loans to dfcu?

by Muhereza KyamuteteraCommercial JusticeCompany NewsThe Big StorySeptember 14, 2018September 15, 2018

The revelation by the Auditor General and corroborated by an interview with the former Executive Director Supervision (EDS) Mrs. Bagyenda, that Bank of Uganda did not carry out an independent…

Police should investigate Bagyenda’s wealth and not journalists

by Muhereza KyamuteteraCompany NewsThe Big StoryThought LeadershipMay 29, 2018

For months now, Justine Bagyenda, the sacked Executive Director, Supervision at Bank of Uganda has been in the headlines over her unexplainable wealth. Although both the Inspectorate of Government (IGG)…