Ham Enterprises U Ltd, lawyers led by Fred Muwema and Arnold Nogan Kimara have asked the court to dismiss the said appeal with costs on grounds that it is incompetent in law and misconceived. The lawyers stated that the high court did not commit any error while dismissing the said loan since DTB broke the rules that govern the banking industry in Uganda.
The long-standing financial battle between DTB and Ham Enterprisee is near final judgement after the high court commercial division Justice Flavia Zeija has set the 2nd of November 2020 to rule on an appeal filed by DTB bank trying to challenge court’s Judgement against the illegalities Acts of the Bank: thereby ordering Diamond Trust Bank to refund the 120Bn unlawfully and fraudulently debited from Ham’s accounts with 8% interest (9.6 Billion), immediate release all mortgages, debentures, personal guarantees and return of all titles belonging to Ham Enterprises held by the bank as well as cancleing the 39 Billion loan that had illegally been extended to Ham Enterprises, settling it at law in total protection of the Ugandan Banking laws and Uganda’s Financial Independence.
The Court further issued directives to Bank of Uganda as the implementing authority under the Financial Authorities Act 2 of 2004 As Amended to take such necessary actions and measures to ensure that the provisions of the law is implemented in accordance with the intention of the law such as to protect the Ugandan economy from illegal hemorrhages and uncontrolled flows of financial resources and to ensure that financial institutional business in Uganda is operated within the letter of the law to protect the nascent banking business industry in Uganda.
Ham Enterprises U Ltd, lawyers led by Fred Muwema and Arnold Norgan Kimara have earlier today (October 26,2020) asked court to dismiss the said appeal with costs on grounds that it is incompetent in law and misconceived.
Muwema stated that the high court did not commit any error while dismissing the said loan since DTB broke the rules that govern the banking industry in Uganda.
Counsel added that DTB should repent and return back the fetched money from mogul Ham’s accounts since they unlawfully acquired it thus losing the first case.
On thereother hand, DTB bank lawyer Kiryowa Kiwanuka has asked the court to stay the execution of the commercial high division court judge Henry Peter Adonyo ruling until the final determination of the said appeal.
Kiryowa noted that that the said ruling that was handed in the 7th of October 2020 was full of many irregularities including ordering that the bank returned Kiggundu’s land titles after winning the case and over 120bn shillings that DTB had taken from his accounts.
This case is a very positive success towards eliminating the rampant exploitation of Ugandans by Banks through illegal activities that had been previously backed by Section 13 of the Mortgage Act requiring bank customers to first deposit 30% of the disputed amounts before court can hear any case filed against any bank, which section was earlier ruled out of Ham Enterprises U Ltd case by court. This historical and Landmark judgement by Hon Justice Henry Peter Adonyo will forever change Uganda’s banking industry.
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