Business
Tycoon Ham ordered to cleae UGX 120b DTB debt
The Supreme Court in Kampala has this Tuesday morning ruled that the $11m loan Diamond Trust Bank Kenya and DTB Uganda gave to Ugandan businessman, Hamis Kiggundu, was legal.
The judges held that the concern of jurisdiction raised by Ham Kigunddu does not hold any substance, and therefore he is obliged to pay the debt that he had acquired from the Kenyan based Diamon Trust Bank.
The loan was legal,” the Supreme Court judges unanimously agreed, adding, “There was no question of illegality.”
The Highest court in the land also referred the matter to the High Court for trial on facts, excluding the issue of illegality, which has been conclusively determined.
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