Court freezes GTV bank accounts
Feb 08, 2009
A COURT in Arua has issued an order barring transactions on two bank accounts owned by the defunct Gateway Broadcast Services (GTV).
By Frank Mugabi
and Raymond Baguma
A COURT in Arua has issued an order barring transactions on two bank accounts owned by the defunct Gateway Broadcast Services (GTV).
The order, signed last week by the Chief Magistrate, Michael Otto, follows a suit filed by a local businessman against the company. The businessman is seeking over sh50m in compensation.
Michael Moni of Science and Technology masters, who was a GTV dealer in West Nile, said he lost a lot of money when the company abruptly ceased operations last month.
GTV, a former pay TV channel popular among foot ball fans, announced on January 30, that it was under liquidation owing to the current global financial crisis.
They said the crisis had interrupted the company’s ability to secure more funding to continue operations.
Through his lawyer, Paul Manzi of Manzi, Odama and Co. Advocates, Moni said he had just banked money for GTV and purchased stock, including recharge cards, dishes, cables, decoders, which he could no longer sell.
The lawyer said his client was acting like any “prudent businessman†wishing to protect his money.
“We secured the interim order blocking the accounts to ensure that the suit which we logged against GTV is not futile. We will move very quickly to serve the bank so that money is not removed,†Manzi said.
The order, which The New Vision read through, said: “The respondent is hereby restrained from removing any money that is held on account number 0341409446 and 6000494877 at Barclays Bank, Arua Branch, until disposal of the main application.â€
Moni became a GTV agent on November 11, 2008.
He was, among other responsibilities, accredited to carry out installations and repairs and maintain equipment for GTV subscribers.
He was also required to train and manage staff to sell GTV services and meet sales targets.
The Uganda Broadcasting Council (UBC) in a press statement on Friday, said Gateway Broadcast Services, the parent company of GTV, was in the process of appointing liquidators in Uganda to settle their creditors and debtors in fulfillment of legal procedures of winding up a company.
UBC also announced that they had, effective February 4, withdrawn its permission to GTV (U) Ltd to broadcast in Uganda; and revoked the licence of Gateway Broadcasting Services.
The chairperson of UBC, Godfrey Mutabazi, said GTV was licensed to operate as a subscription-based satellite television in Uganda in accordance with the Electronic Media Act.
Mutabazi said at the time of licensing GTV, Ugandans had limited access to international television programming and in the first 18 months of operation, GTV had fully complied with the licensing conditions set by the council.
and Raymond Baguma
A COURT in Arua has issued an order barring transactions on two bank accounts owned by the defunct Gateway Broadcast Services (GTV).
The order, signed last week by the Chief Magistrate, Michael Otto, follows a suit filed by a local businessman against the company. The businessman is seeking over sh50m in compensation.
Michael Moni of Science and Technology masters, who was a GTV dealer in West Nile, said he lost a lot of money when the company abruptly ceased operations last month.
GTV, a former pay TV channel popular among foot ball fans, announced on January 30, that it was under liquidation owing to the current global financial crisis.
They said the crisis had interrupted the company’s ability to secure more funding to continue operations.
Through his lawyer, Paul Manzi of Manzi, Odama and Co. Advocates, Moni said he had just banked money for GTV and purchased stock, including recharge cards, dishes, cables, decoders, which he could no longer sell.
The lawyer said his client was acting like any “prudent businessman†wishing to protect his money.
“We secured the interim order blocking the accounts to ensure that the suit which we logged against GTV is not futile. We will move very quickly to serve the bank so that money is not removed,†Manzi said.
The order, which The New Vision read through, said: “The respondent is hereby restrained from removing any money that is held on account number 0341409446 and 6000494877 at Barclays Bank, Arua Branch, until disposal of the main application.â€
Moni became a GTV agent on November 11, 2008.
He was, among other responsibilities, accredited to carry out installations and repairs and maintain equipment for GTV subscribers.
He was also required to train and manage staff to sell GTV services and meet sales targets.
The Uganda Broadcasting Council (UBC) in a press statement on Friday, said Gateway Broadcast Services, the parent company of GTV, was in the process of appointing liquidators in Uganda to settle their creditors and debtors in fulfillment of legal procedures of winding up a company.
UBC also announced that they had, effective February 4, withdrawn its permission to GTV (U) Ltd to broadcast in Uganda; and revoked the licence of Gateway Broadcasting Services.
The chairperson of UBC, Godfrey Mutabazi, said GTV was licensed to operate as a subscription-based satellite television in Uganda in accordance with the Electronic Media Act.
Mutabazi said at the time of licensing GTV, Ugandans had limited access to international television programming and in the first 18 months of operation, GTV had fully complied with the licensing conditions set by the council.