By Michael Odeng
The High Court’s Commercial Division has summoned West Budama County MP, Fox Odoi to answer allegations of defaulting on sh330m loan.
The legislator has been summoned along with Kin Karissa, the chairman of Kin Group Ltd.
The duo allegedly obtained a $132,000 (about sh330m) loan from Kampala Money Mart Ltd, a money lending company in October 21, 2013 but defaulted on paying up by November 21.
They are said to have entered an agreement with the company and were advanced a loan of $110,000 (about sh275m) under an accord that the defendants pay the loan before November 21.
By the agreed deadline, the load had amounted to sh330m from an interest increment.
Having failed to pay back the money, the company, through G.M Kibirige and Co-Advocates, dragged MP Odoi and Karissa to court.
According to documents seen by New Vision, the plaintiff filed the suit on December 2, 2013 and court received it on December 6, 2013.
The plaintiff claims that the loan was served with a land title registered in the names of COMESA Technologies Ltd, occupying LRV folio Kyaggwe road block 113, plot 672.
However, in spite of the plaintiff’s demands and intentions to sue, the defendants have failed to honour their obligation, causing damages and losses to the company.
In response to the suit, Justice Hellen Obura issued summons against Odoi and Karissa, requesting them to appear in court next Monday December 16 to defend themselves.
Failure to appear in court will entitle the accuser to obtain a decree for the sh330m, the judge warned.
“You are required to turn up within 10 days from service of the suit to appear and defend it,” Obura said in a letter dated December 10.