Basajja, bank in loan talks
Jun 07, 2006
HIDES and skins dealer Hassan Basajjabalaba and the Uganda development Bank (UDB) were yesterday locked up in a three-hour meeting at the Commercial Court over sh6b he owes the bank.
By Hillary Kiirya
HIDES and skins dealer Hassan Basajjabalaba and the Uganda development Bank (UDB) were yesterday locked up in a three-hour meeting at the Commercial Court over sh6b he owes the bank.
The parties, however, failed to agree.
Basajjabalaba, his lawyer and bank officials who included Priscilla Mugisha, Iga and Kamba appeared before the Commercial Court registrar, Henry Haduli, who presided over the mitigations.
It could not be established what the parties discussed because the case file had no details.
UDB demands sh6,078,144,970.65, with an interest rate of 12% per year from December 5, 2005 until payment in full.
HIDES and skins dealer Hassan Basajjabalaba and the Uganda development Bank (UDB) were yesterday locked up in a three-hour meeting at the Commercial Court over sh6b he owes the bank.
The parties, however, failed to agree.
Basajjabalaba, his lawyer and bank officials who included Priscilla Mugisha, Iga and Kamba appeared before the Commercial Court registrar, Henry Haduli, who presided over the mitigations.
It could not be established what the parties discussed because the case file had no details.
UDB demands sh6,078,144,970.65, with an interest rate of 12% per year from December 5, 2005 until payment in full.