When a state-owned development bank turns into a vampire and receivers/managers turn into villains — the story of Mubende Parents School, UDB and receivers, Kabiito Karamagi and Joshua Ogwal
Muhereza Kyamutetera
LEFT-RIGHT: Patricia Ojangole, the Managing Director of Uganda Development Bank (UDB) and receivers/managers, Kabiito Karamagi and Joshua Ogwal. UDB, together with the two lawyers have been ordered to compensate Mubende Parents Schools for negligently and unlawfully disposing of the school and misusing money attached in foreclosure and a receivership terribly gone wrong.
Justice Richard Wejuli Wabwire, of the Commercial Court, has found that Uganda Development Bank (UDB), unlawfully sold the property of their client, Mubende Parents School; illegally appointed Kabiito Karamagi and…
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