By Spy Uganda
Kampala: Troubles continue to engulf the life of tycoon Gordon Wavamuno’s son Elvis Sekyanzi Wavamuno after Court issued an arrest warrant against him for failure to clear debts amounting to over UGX860million.
According to the arrest warrant issued by the Deputy Chief Registrar High Court Commercial Division, Sekyanzi who is the proprietor of Liquid Silk Limited and Silk Events was ordered earlier this year to pay Mash Investments Limited (Judgment Creditor) the decretal sum of $230,661 and Shs31, 800,000 together with an unspecified amount of money for the cost of executing the process, to bring the said judgment debtor (Sekyanzi) before the Court with all convenient speed something he failed to do.
“You are hereby commanded to arrest the said judgement debtor and unless he pays to you the said sum of $230,661 and Shs31, 800,000 together with shillings for the cost of executing this process, to bring the said judgment debtor before the court with all convenient speed,” partially reads the arrest warrant.
It further states, “You are also hereby ordered to return this warrant on or before 24 December 2021 with an endorsement certifying the day in which it has been executed or the reason why it has not been executed. This serves to direct every police officer to ensure that the execution is done as ordered by Court.”
For our first time readers, this whole saga stems from 2016 when Mash Investments Limited sued Sekyanzi and Liquid Silk Limited for recovery of $136,000 (over Shs480 million), which Sekyanzi unlawfully used in his operations at Liquid Silk Bugolobi since 2014.
The background to the claim is that in May 2014, Sekyanzi together with one Isaac Mulindwa and Mash Investments Ltd entered into a pre-incorporation agreement to incorporate and run an entity known as Liquid Silk Bugolobi Limited. However, along the way, Sekyanzi went against the agreement before sidelining his business partner-Mash Investments Limited.
In his judgement, Justice David Wangutusu ordered Sekyanzi to pay for general damages, interests as well as costs of the suit to Mash Investments Limited.