Hamis Kiggundu Takes Steps To Prevent Delivery Of Funds In Shs 120 billion DTB Loan Case

Posted by: lukwago J in Uganda news June 12, 2023

City businessman Hamis Kiggundu has petitioned the Supreme Court in Kampala urging them not to deliver their judgment as planned in the case in which he wants to recover Shs 120 b from Diamond Trust Bank Uganda and Diamond Trust Bank Kenya.

Records before court show that City tycoon Hamis Kiggundu had obtained huge loans summing to over 120 billions from Diamond Trust Bank Uganda and Diamond Trust Bank Kenya between 2011 and 2016 to finance his real estate business.

Meanwhile the application by Mr Hamis dated June 9, 2023 seeks to pause the judgment fixed for delivery on June 13 ,2023 such that him and his two companies be granted leave to adduce additional evidence from the Central Bank of Kenya to elucidated the illegality committed by the DTB Kenya in respect of the disputed credit transactions between the two parties which is the main issue of appeal.

However the pending judgment in the Supreme Court stems from a series of legal proceedings initiated by Hamis against DTB Uganda and Kenya.

Further investigations indicate that the case originated from a syndicated banking agreement between Ham Enterprises Limited and Kiggd International Limited and the two banks.

Hamis Kiggundu and lawyer sought to strike out bank’s defenses

Meanwhile records before court show that Mr Hamis had previously obtained loans to finance his business and the dispute arose when the banks claimed that he failed to fulfill his loan obligations amounting to Shs 39 b as per agreement terms.

Hamis petitioned the commercial court citing that the withdrawn funds exceeded the outstanding loan amount as he had already made full repayment.

Meanwhile Hamis and his lawyer sought to strike out the bank’s defenses and obtain an Oder for the refund of unlawfully obtained funds but justice Adonyo presiding over the case dismissed the banks defense and directed them to refund the money along with an 8 % interest.

In a subsequent ruling the court of appeal overturned judge Adoyo’s order and ordered a retrial before a different judge.

Dissatisfied with this decision city tycoon lodged an appeal with the Supreme Court which he now doesn’t want its judgment to be delivered on June 13, 2023 as earlier scheduled.

Meanwhile numerous letters to the Supreme Court requesting to be heard, they were never heard only to attend a pre hearing session on Thursday and were informed by Lady Justice Elizabeth Musoke that the judgment was sent for June 13,2023.

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