UBL Drags Bencher Investments & Trading Company To Court Over UGX5.19B Debt

UBL Drags Bencher Investments & Trading Company To Court Over UGX5.19B Debt

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By Spy Uganda

Kampala: Uganda Breweries Limited (UBL) has dragged one of its distributors, Bencher Investments & Trading Company to court over UGX5.19B debt arising from breach of contract.

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According to UBL, the distributor failed to pay for the distributed goods of an amount totalling UGX5.19b despite several meetings over the same since 2017.

”Bencher Investments Company was required to place orders for a range of products, some of which would be supplied on credit on condition that it supported and enable the expansion of UBL’s market in northern Uganda,” reads one of the court documents.

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Court documents further reveal that Bencher Investments had acknowledged indebtedness to UBL to a tune of Shs5.19b and executed a debenture over all the assets of the company as security for payment of the outstanding sums but later changed their thoughts.

This is what triggered UBL To run to the Commercial Division of the High Court, asking it to squeeze Bencher Investments & Trading Company, together with its Managing Director Eric Olobo to cough the above-mentioned money within a period of 14days.

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