Bank of Uganda in the suit filed by businessman Sudhir Ruparelia against Crane Bank Limited (in receivership) will be represented J B. Byamugisha Advocates after court recently ruled that Sebalu&Lule Advocates are conflicted
In a May 17, notice to the High Court, the central bank has confirmed having instructed J. B. Byamugisha Advocates, to provide them with legal services.
“Take notice that J.B Byamugisha Advocates on 2nd Floor, EADB Building, 4 Nile Avenue, Kampalla have been instructed to represent the Respondent (Crane Bank) in the above application,” a notice of represented drafter by the law firm stated.
The central bank in October 2016 took over management of Crane Bank Ltd before later controversially selling it dfcu Bank in January 2017 for a paltry UGX200 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.
Court last month ruled that Sebalu&Lule Advocates are conflicted because they recently worked for Ruparelia Group – the conglomerate owned by the businessman.
In December 2017, the Commercial Court disqualified city lawyers Kanyererezi Masembe and David Mpanga from the sh397b Sudhir Ruparelia’s case against Bank of Uganda (BoU), also citing conflict of interest.
Ruparelia has this week confirmed that he is determined to take on the Bank of Uganda to recover his closed Crane Bank Ltd.
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 Rupaleria.