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Tag: Court of Appeal

Trouble For BoU After Court Of Appeal Dismisses Shs397Bn Case Filed Against Tycoon Sudhir

Trouble For BoU After Court Of Appeal Dismisses Shs397Bn Case Filed Against Tycoon Sudhir

FEATURED, NEWS
By Keefa Nuwahereza The court of Appeal on Tuesday morning dismissed an appeal that had been filed by Bank of Uganda, contesting a 2019 ruling by High Court Justice David K. Wangutusi,  in which he ruled that Bank of Uganda had no legal capacity to sue Sudhir Ruparelia on behalf of Crane Bank, which was under receivership. The Matter arose from a case filed by BoU against Sudhir in 2016, alleging that the tycoon and others had pocketed Shs397Bn from Crane Bank prior to its being wound up and sold to dfcu  Bank. When Justice Wangutusi dismissed the case with costs after BoU lawyers failed to adduce enough evidence to back up their allegations, BoU officials decided to appeal the ruling, which resulted into the dismissal of their Appeal today by the a Panel of  thre...