Simbamanyo Estates Limited and its proprietor Peter Kamya have lost an appeal against the decision of the High Court’s Commercial Division on the sale of their multimillion properties.
High Court Judge Susan Abinyodismissed with costs, the application in which Simbamanyo had sought to halt the transfer of it’s prime properties in Kampala which Equity Bank Ltd sold to recover outstanding loans worth $10.8 million (about Shs40 billion).
In a ruling delivered by e-mail this Friday July 30, Justice Abinyo said that Simbamanyo Estates did not present to court acceptable grounds for court’s consideration to halt the orders of the Registrar Commercial Court, issued on February 17, 2021.
The judge also ordered legal costs for bank and three others — Meera Investments Ltd, Luwaluwa Investments Ltd, and the Commissioner Land Registration incurred in the appeal.
