DFCU Summoned by commercial Court

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The Commercial Court has summoned DFCU bank to file a defence within 15 days explaining  why it has refused to pay -off debts that were incurred by the now closed Crane Bank.

This follows a suit filed by an advertising company ; Premier  Adveritsing and media Ltd against DFCU bank, claiming it demanded 112 million  shillings  from Crane Bank as at  the time  Bank of Uganda  transferred all its  assets and liabilities to  DFCU.

According to the sources , the said money  arises out of an advertising contract that Crane Bank entered into with this company to market it’s services.

A source from, Premier Advertising and Media Limited said that several  reminders have been made to DFCU bank but all of them have been futile a thing that has brought in many losses to the business, thus the only option was to seek for court’s intervention

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