Sunday, April 14News That Matters

Day: April 16, 2022

Equity Bank, Meera Investments’ claims against Simbamanyo thrown out by the Commercial Court

Simbamanyo has won the second round in the cases he filed against Equity Bank, Sudhir Ruparelia’s Meera Investments Limited, and Ronald Luwangula’s Luwaluwa Investments Limited. Simbamanyo Estates Limited through their lawyers M/S Kakuru & Co Advocates appealed against the decision of the Registrar, His Worship Kisawuzi who had awarded instruction fees of UGX 600,000,000/= to Equity Bank, UGX 400,000,000/= to Meera Investments Ltd, UGX 300,000,000/= to Luwaluwa Investments for its applications (No. 224, 3 and 718 all of 2021), which applications Simbamanyo had lost in a bizarre ruling by Lady Justice Susan Abinyo. Simbamanyo appealed the taxation award and their major ground of the appeal was that it was not only unreasonable, inaccurate, manifestly excessive, and unfair but hig...