OPINION: Journalist – Musamali Arnold:- If court rules in favor of the Applicant, who happens to be HAM Enterprise, the consequences are likely to affect the banking business economy negatively.
majority of banks may run away from Uganda and this has serious implication on revenue, jobs etc.
Majority of the banks in Uganda are foreign owned and they entirely rely heavily on syndicate funding to run activities in uganda and this is why businessman, Hamis Kiggundu is still in court with diamond trust bank.
In my investigation and consultations from senior law makers, it looks like these Uganda banks have ganged up to drill Tycoon Ham. In one way or another, they could be funding court judges to rule in favor of DTB.
This case isn’t about HAM vs DTB, it’s against almost all foreign banks and they constitute the majority.
All commercial banks that are foreign owned are closely monitoring this situation and so much interested in the out come of this case.
From a lay person’s perspective,Ham won’t win this case. If he wins,banks may run away coz they are perpetuators of syndicate banking.
Our economy as a country entity relies on foreigners, we need to accept the truth.
Supreme court sets 8 June for pre-hearing conference, in the case of Ham Enterprise LTD Vs Diamond Trust Bank (DTB).
In this fix Date process, court was to receive Civil application filing in written submission from both sides.
- Mr Kiggundu through his lawyers led by Mr Fred Muwema sought judgment on DTB management’s admission that the bank operated without a required license, resulting in the fraudulent withdrawal of funds from his bank accounts.
According to City Business, Hamis Kiggudu commonly known as Ham, DTB excessively, deceptively unlawfully debited two hundred twenty. (120) billion shillings. from ham accounts on top of the fact that they had transacted without a licence contrary to sec 117 of the FIA.
Ham says this is an illegality they committed and admitted on high court record upon which facts judgement was rightly entered in ham’s favour for recovery of his money from DTB.
Though today, the court told him and his lawyers that the judgement in his case against DTB at Supreme Court would be ready on June 13, 2023.
Ham disagreed with court’s decision claiming that his lawyers reportedly still had an application to file.
Opinion: All Foreign Banks In Uganda Must Be Funding DTB, Bribing Court Judges To Win Ham ENT Case.
By Freeman News UG Container: FREEMAN NEWS Year: 2023 URL: http://www.freemannewsug.com/2023/06/opinion.html