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Kazoora given two week ultimatum to clear sh54m debt

By Farooq Kasule

Added 22nd May 2018 05:00 PM

He presented his vehicle as security in order to be released, on top of paying sh10m

Kazoora given two week ultimatum to clear sh54m debt

He presented his vehicle as security in order to be released, on top of paying sh10m

Renowned media personality, David Kazoora, regained his freedom after paying sh10m as partial payment of his sh54m debt.

On Monday, Kazoora was committed to civil remand for six months over failure to pay a bank loan amounting to sh54,048,875.

Court documents indicate that in 2015, Kazoora obtained a salary loan from United Bank of Africa (UBA) while working with Crown Beverages but he lost the job before completing the payment and never bothered to pay it. 

This prompted the bank to drag him to the Commercial Court which directed him to pay the money.

However, on Tuesday, Kazoora managed to raise sh10m, prompting the deputy registrar of the execution division of the High Court, Deo Nzeyimana, to set him free.

"You are hereby released from civil remand after partial payment of the debt. However, you are directed to pay the remaining money within 14 days, lest you will be sent back to jail," Nzeyimana ruled.

Kazoora also presented his vehicle as security in order to be released.

He was also compelled to sign two cheques amounting to sh40m, which he told court would mature within seven days.

A lawyer for UBA who spoke to New Vision on condition of anonymity, said he consented to Kazoora's release because what they want is the money and not his incarceration.

However, he said they will re-arrest him in case he does honour his pledge.

On Monday, Kazoora was arrested at Lugogo Bypass by bailiffs.

"Where as you Kazoora is a judgement debtor, you have neither obeyed the decree nor satisfied the court that you are entitled to be discharged from custody. Therefore, you committed to civil remand for a period not exceeding six months," Nzeyimana ruled on Monday.

Kazoora declined to comment on the matter after his release.

In 2014, Kazoora was also dragged to court in Rwanda over allegations of diverting an advertising project from Buddies Production, where he was co-owner, to his new firm, Buddies TV Ltd, to allegedly fleece his partner of dividends.

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