By Spy Uganda
Kampala:In a surprising turn of events Bank of Uganda (BoU) kicked out troubled Sebalu and Lule Advocates and instructed Dr. Joseph Byamugisha to represent them through his Byamugisha & Co. Advocates in the fresh suit filed by city tycoon Dr.Sudhir Ruparelia.
Sebalu & Lule were recently declared by commercial court justice Paul Gadenya Wolimbwa to be conflicted and therefore unfit to represent them in any case involving Crane Management Services Ltd having been their lawyer.
In a notice dated 17 May 2019 to the High Court, the central bank instructed Mr Byamugisha, to represent them in a case filed by Sudhir, who is seeking orders to dismiss an earlier suit brought against him and his Meera Investments Ltd.
“The Applicant has made out a case that the first respondent (Sebalu & Lule) has relevant information of the applicant. The information is relevant and I accordingly grant an injunction restraining the first respondent from handling any case involving the applicant,” ordered Justice.
Sudhir this week confirmed that he was determined to take on the Bank of Uganda to recover his closed Crane Bank Ltd.
The central bank in October 2016 closed Crane Bank Ltd, previously one of the best performing banks before controversially selling it to dfcu Bank in January 2017 for a paltry Shs 200 billion.
The central bank has since come under the spotlight after the closure Crane Bank Ltd backfired with both Parliament and the Auditor General faulting the BoU officials in the middle of the transaction.
The dfcu Bank which received some of the assets and liabilities of Crane Bank has since been allowed to operate in different branches whose ownership belonged to Meera Investments Ltd, one of the companies owned by Sudhir.