Former Greenland Bank staff to get sh1b
Mar 14, 2007
GREENLAND Bank’s former 277 employees will be paid sh1b by the central bank, the High Court has ordered.
By Hillary Nsambu
GREENLAND Bank’s former 277 employees will be paid sh1b by the central bank, the High Court has ordered.
This follows a consent judgement reached between the former employees and Bank of Uganda, the liquidator of Greenland Bank, to pay sh1,271,001,233.
Last week, the High Court ordered the central bank to pay the Court Registrar sh1b as the full and final terminal benefits of the former employees.
However, by consent, the court dismissed the case against Bank of Uganda and each party agreed to bear the costs of the suit. Justice Stella Arach-Amoko registered the consent judgment.
Makeera and Company Advocates, who represented the former employees, and MMAKS Advocates, the lawyers for the central bank, amicably agreed to settle the dispute.
The former workers had originally sought a declaration that they were entitled to pension and terminal benefits.
GREENLAND Bank’s former 277 employees will be paid sh1b by the central bank, the High Court has ordered.
This follows a consent judgement reached between the former employees and Bank of Uganda, the liquidator of Greenland Bank, to pay sh1,271,001,233.
Last week, the High Court ordered the central bank to pay the Court Registrar sh1b as the full and final terminal benefits of the former employees.
However, by consent, the court dismissed the case against Bank of Uganda and each party agreed to bear the costs of the suit. Justice Stella Arach-Amoko registered the consent judgment.
Makeera and Company Advocates, who represented the former employees, and MMAKS Advocates, the lawyers for the central bank, amicably agreed to settle the dispute.
The former workers had originally sought a declaration that they were entitled to pension and terminal benefits.