On 17th December 2017, Uganda’s most successful entrepreneur, Sudhir Ruparelia registered one of his first and fundamental victories against Bank of Uganda (BOU). The High Court had ruled that BOU could not be represented by AF Mpanga advocates and Timothy Masembe. This it was argued was a conflict of interest considering that Mpanga had been a Crane Bank Lawyer for over 10 years.
However we can now reveal that despite this ruling, BOU staff continue to be cacooned in late night meetings with these forbidden lawyers. Among the BOU staff are Louis Kasekende, the Deputy Governor, the infamous supervision boss, Christine Bagyenda and the Head of Legal at BOU, Margaret Kasule.
Many have interpreted these as kicks of a dying horse as BOU is yet to announce a new law firm to represent them in their case against Sudhir Ruparelia.
According to our sources, these late night meetings are to help transfer information that would otherwise be considered confidential and should never be disclosed by the lawyers who signed a non-disclosure agreement with their former client (Sudhir Ruparelia).
In other news, Bank of Uganda is still yet to explain how a Bank they considered failed and had it acquired would result in its buyer (DFCU) becoming one of the most profitable banks in the aftermath of the buy-out. Could it have been that their was an inside scam to make Sudhir lose his bank? If Crane Bank was really operating in losses, how could it be that DFCU after taking over was able to pay its shareholders dividends for the first time in a long while?