Why those who thought they were above the law will soon realise that this is not the case
THE LAST WORD | ANDREW M. MWENDA | On February11, businessman Sudhir Ruparelia won yet another victory in the Supreme Court against Bank of Uganda over the fate of Crane Bank.
The central bank closed Crane Bank in October 2016 claiming it was undercapitalised. The latest ruling is a culmination of a running battle between the central bank and Sudhir for four years. The Supreme Court ruled that Crane Bank should revert to Sudhir and asked BOU to pay the costs. So far it is estimated the costs of the trial from the High Court through the Court of Appeal up to the Supreme Court amounts to Shs 200 billion.