Kampala, Uganda | URN | The High Court in Kampala has issued a temporary injunction blocking Standard Chartered Bank from auctioning property belonging to Senana Investments Limited.
Commercial Division Registrar Festo Nsenga on Friday 12, July 2019 granted the order following a consent agreement with the lawyers of Standard Chartered Bank and Frida Nabirongo one of the Directors of Senana Investments Limited.
Nsenga said that the order will last until July 31st and advised Nabirongo to get a Certificate of Agency such that the main case can be heard expeditiously.
Senana filed a suit in the Commercial Division of High Court on October, 16th 2016 through its lawyers of Kavuma Kabenge and Company Advocates seeking an order to restrain the Bank’s agents from selling its property located in Makerere, Busega and Buganda Road.
The company challenged the manner under which the bank had moved to attach properties yet the loan had allegedly been paid between 2015 and 2017.
Senana argued that the demand notice statements served to them contained amounts that had been manipulated and were rendered false.
The applicants thus sought for a review of the mortgage arguing that the Bank had acquired the properties unlawfully and should thus be declared illegal.
However, Standard Chartered Bank in its defence filed in November 2018 through its lawyers of Sebalu and Lule Advocates insists that Senana failed to pay the loan in question despite the fact that they were reminded several times.
On July 1st, 2019 the lawyers of Standard Chartered Bank wrote to Nabirongo one of Senana Directors notifying her that the property was to be auctioned if they don’t fulfill their loan obligations.