Tobacco company blocks Mastermind
Nov 04, 2003
Tobacco and Commodity Traders International Incorporated (TCTII) has applied to the Commercial Court to cancel the transfer of Mastermind’s residential house in Bugolobi.
By Jude Etyang
Tobacco and Commodity Traders International Incorporated (TCTII) has applied to the Commercial Court to cancel the transfer of Mastermind’s residential house in Bugolobi.
TCTII told court on Monday the house on Plot 58 Luthuli Avenue had been illegaly tranferred from Mastermind.
Mastermind Tobacco is under interim liquidation to Central Tobacco Stores Limited.
The wind-up petition against Mastermind is before Justice James Ogoola , the head of the commercial court.
TCTII’s lawyer Karamagi Kabito told court the interim liquidator, Bemanya Twebaze was not aware of the transfer of the house.
Kabito said the transfer was meant to frustrate the liquidation process.
“It’s in the interest of justice that the transfer is cancelled immediately,†Kabito said.
TCTII, petitioned for the liquidation of Mastermind Tobacco Uganda Limited in September 2002 for failure to pay a sh1.6b debt.
All the assets of Mastermind which used to produce Supermatch cigarettes were placed under a liquidator until the Commercial Court decides the petition.
Ogoola who is also handling the application on the property removed the Registrar General from among the respondent parties besides Central Tobacco Stores in the application.
Ogoola said the Registrar General will be a witness in the case.
Tobacco and Commodity Traders International Incorporated (TCTII) has applied to the Commercial Court to cancel the transfer of Mastermind’s residential house in Bugolobi.
TCTII told court on Monday the house on Plot 58 Luthuli Avenue had been illegaly tranferred from Mastermind.
Mastermind Tobacco is under interim liquidation to Central Tobacco Stores Limited.
The wind-up petition against Mastermind is before Justice James Ogoola , the head of the commercial court.
TCTII’s lawyer Karamagi Kabito told court the interim liquidator, Bemanya Twebaze was not aware of the transfer of the house.
Kabito said the transfer was meant to frustrate the liquidation process.
“It’s in the interest of justice that the transfer is cancelled immediately,†Kabito said.
TCTII, petitioned for the liquidation of Mastermind Tobacco Uganda Limited in September 2002 for failure to pay a sh1.6b debt.
All the assets of Mastermind which used to produce Supermatch cigarettes were placed under a liquidator until the Commercial Court decides the petition.
Ogoola who is also handling the application on the property removed the Registrar General from among the respondent parties besides Central Tobacco Stores in the application.
Ogoola said the Registrar General will be a witness in the case.