A legal battle between businessman Hamis Kiggundu and DTB Uganda and DTB Kenya, the case is now awaiting judgment in the Supreme Court. The dispute originated from a banking agreement between Ham Enterprises Ltd, Kiggs International Ltd, and the two banks.
In October 2020, the Commercial Court ruled in favor of Kiggundu, ordering DTB Uganda to refund all funds deducted from his accounts. The court found that the deductions were made without Kiggundu’s consent. According to records presented during the trial, Kiggundu had obtained loans totaling over Shillings 120 billion from DTB Uganda and DTB Kenya between 2011 and 2016 to finance his real estate business.
However, the banks claimed that Kiggundu had failed to fulfill his loan obligations of Shillings 39 billion as per the agreed terms. They threatened to seize the mortgaged properties. Kiggundu approached the commercial court, arguing that the withdrawn funds exceeded the outstanding loan amount, as he had already made full repayment.
Represented by Fred Muwema, Kiggundu sought to have the banks’ defenses struck out and requested a refund of the unlawfully obtained funds. The Commercial Court, presided over by Justice Henry Peter Adonyo, dismissed the banks’ defense and ordered them to refund the money along with an 8% interest rate and the costs of the suit.
However, the banks were dissatisfied with the decision and sought relief from the Principal Judge, Dr. Flavian Zeija. Zeija granted an order to stay the execution of Adonyo’s orders, preventing Kiggundu from recovering the funds.
The banks then appealed to the Court of Appeal, which subsequently overturned Judge Adonyo’s order and ordered a retrial before a different judge. Unhappy with this outcome, Kiggundu filed an appeal with the Supreme Court, where the case currently awaits judgment.
Would you like to get published on this Website? You can now email Uganda Times: an Opinion, any breaking news, Exposes, story ideas, human interest, articles, or any interesting videos: news@ugandatimes.ug. Or join the Ugandatimes WhatsApp Group or Telegram Channel for the latest updates
