Matooke Republic
Saturday, June 21, 2025
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
Matooke Republic
  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos
  • Relationships
No Result
View All Result
Matooke Republic
No Result
View All Result

BoU sued for failure to conclude Greenland Bank liquidation 21 years later

Matooke Republic by Matooke Republic
March 8, 2022
in Business
Reading Time: 1 min read
11
SHARES
Share on FacebookShare on Twitter

The shareholders of Greenland Bank Ltd have petitioned the Commercial Division of the High Court over liquidation of their bank that is yet to be concluded after more than two decades.

The 27 aggrieved shareholders, led by Mr Sulaiman Kaweesi, state that their bank was placed under liquidation 21 years ago, but the process is still ongoing.

“A declaration that the continued liquidation of the 2nd defendant (Greenland bank) for more than 21 years without accountability to the plaintiffs is irregular, unreasonable and in bad faith,” the court document dated March 1, reads in part.

RELATED POSTS

Sudhir’s Vcon Construction completes IUIU’s Engineering faculty in under two years

Stakeholders assess 2025/26 budget implications for insurance and finance sectors

“A declaration that the entire process of liquidation of the 2nd defendant is marred by massive fraudulent acts committed by the officials of the 1st defendant (BoU),” the petition further reads.

The Greenland shareholders also want court to order the central bank to render the true account of the management of the properties that belonged to the companies, associated with the bank at the time of closure.

Greenland bank, then an indigenous bank owned by the late Sulaiman Kiggundu, was incorporated on August 3, 1990 until April 1, 1999 when BoU closed it and placed it under liquidation.

Related

Tags: BoUGreenland Bank
Share4Tweet3Send
Matooke Republic

Matooke Republic

Freshly peeled info from area code 256

Related Posts

Court dismisses “incompetent application” by BoU to drop fraudulent and wrongful closure case brought against it by defunct Greenland Bank shareholders

by Matooke Republic
2 years ago

...

BoU warns public against using cryptocurrencies to transact businesses, says it’s illegal

by Matooke Republic
3 years ago

...

BoU's Margaret Kasule the head of BoU's Legal Department

Legal analysts term BoU statement on Crane Bank case ruling as limp and sidestepping key issues

by Matooke Republic
3 years ago

...

WEEK IN REVIEW: Uganda to pay DR Congo Shs1.2 trillion in war damages, Sudhir wins court case against BoU as Kakwenza escapes from Uganda

by Matooke Republic
3 years ago

...

BoU can go appeal to God – elated Sudhir says after Supreme Court directs Crane Bank should be returned to shareholders

by Matooke Republic
3 years ago

...

Next Post

First Son Muhoozi announces his retirement from the army

Meet Allen Asiimwe, a software engineer who joined fashion to 'be her own boss'

RECOMMENDED

Court of Appeal upholds 12-year sentence for Mowzey Radio’s killer

June 20, 2025

Don Julio gives party lovers a taste of Mexico as they announce The Cantina Fiesta

June 20, 2025
  • 643 Followers
  • 23.9k Followers

MOST VIEWED

  • Here is how to use NIRA’s new online portal to register or renew your national ID

    3335 shares
    Share 1334 Tweet 834
  • Dj Karo finally wins over Cedric Babu’s heart, introduction underway

    173 shares
    Share 69 Tweet 43
  • National ID mass enrolment & renewal exercise: Here are the requirements you must have to get a new ID

    245 shares
    Share 98 Tweet 61
  • Cedric Babu Ndilima, son of Capt. Francis Babu, dies after battle with heart condition

    117 shares
    Share 47 Tweet 29
  • Kampala University proprietor Prof Kateregga’s wife rejects DNA results indicating one of three children is not his, demands fresh test in the United States

    74 shares
    Share 30 Tweet 19
Matooke Republic

Uganda's only free Newspaper. Out every Thursday. Freshly peeled info. kiwatule, Kampala, Uganda.

  • Home
  • News
  • Entertainment
  • Gossip
  • Features
  • Business
  • Sports
  • Health
  • Photos

© Matooke Republic 2024

© Matooke Republic 2024

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.