The fight between the Central Bank and the lawyers representing Meera Investment Ltd and property mogul, Mr Sudhir Ruparelia involving the takeover of Crane Bank, is yet to end despite the recent Supreme Court ruling, ordering Bank of Uganda to foot all the legal costs incurred by the businessman.
On February 11, the Supreme Court, which is the highest court in the land, ordered BoU to foot all the legal costs involving the Shs397b multi-billion cases that Crane Bank in receivership had brought against city businessman Sudhir Ruparelia and his construction company Meera Ltd, bringing the five-year litigation to an end.
In their unanimous decision, the Supreme Court justices held that it was BoU that was behind the Shs397b commercial litigation against the businessman and not Crane Bank in receivership.