Kampala, Uganda.
The Supreme Court has a date when it will deliver judgement in the high stakes legal dispute between businessman Hamis Kiggundu and Diamond Trust Bank (DTB) over a disputed loan of Shs120 billion. As the suspense mounts, both parties are bracing themselves for the far-reaching implications of the court’s decision, which could shape the future of the banking industry.
Kiggundu, represented by the renowned law firm of Muwema & Co. Advocates and Solicitors, recently filed an application seeking to halt the judgment, citing urgent the need to afford Kigundu a right to be heard and an opportunity adduce additional evidence. The application raised questions of alleged illegalities committed by DTB Bank and the Court of Appeal’s mishandling of the case, facts which were allegedly acknowledged by DTB’s own legal team
Despite Kiggundu’s application, the Supreme Court has chosen to proceed with the judgment. A notice has been issued to all parties involved, summoning their presence on the scheduled judgment day of June 13. Should any party fail to appear, the judgment will be delivered in their absence.
The appeal before the Supreme Court stems from a ruling by the Court of Appeal in May 2021, which directed a fresh hearing of the case in the High Court. In an earlier judgment in October 2020, Justice Peter Adonyo had ordered DTB Bank to refund all funds that were unlawfully deducted from Kiggundu’s accounts. Furthermore, the court instructed the bank to return all securities that Kiggundu had deposited. As the highly anticipated judgment day approaches, all eyes are on the Supreme Court as it prepares to render a landmark decision in the Ham vs. DTB case. The outcome of this case will have significant ramifications for both parties involved.
