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Wednesday, August 10, 2022

Tycoon Bitature Breaks Silence on Plot to Sell Skyz Hotel, Other Multi-Billion Properties Over Loans

Simba Group boss Patrick Bitature has spoken out on a public auction notice by Quickway Auctioneers and Court Bailiffs announcing the sale of three properties — of Protea Hotel – Naguru Skyz, Elizabeth Royal Apartments and Moyo Close Apartments — under M/S Simba Properties Investment Co. Ltd.

While Quickway Auctioneers and Court Bailiffs said they were working for M/S Kirunda & Wasige Advocates, Simba Properties Investment Co. Ltd’s lawyers of Muwema & Co. Advocates and Solicitors say the company for which the law firm and the bailiffs company are acting for is legally non-existent as has been determined by the High Court.

“M/s Kirunda & Wasige Advocates used to act for Vantage Mezzanine Fund II Partnership, in a long standing dispute with our client which was decided against them recently,” Bitature’s lawyers wrote in a statement issued on May 18.

“The above dispute was settled on the 9th May 2022 by Hon Justice Musa Ssekaana of the High Court when he declared in Misc. Cause No. 205 of 2021 Vantage Mezzanine Fund II Partnership vs Simba Properties Investment Co Ltd, that Vantage Mezzanine Fund II Partnership doesn’t have any legal presence, existence of locus standi to file the suit.”

Muwema & Co. Advocates and Solicitors further say that the sale by auction advert that appeared inĀ The Daily Monitor on May 18, was simply meant to damage the name of M/S Simba Properties Investment Co. Ltd and its directors.

“We wish to inform the general public that the said Advert has been issued without any legal basis. It is a malicious advert whose sole purpose is to alarm and cause irreparable damage to our client’s business and reputation,” further read the notice responding to the advert.

“Our client’s properties are not liable to be advertised for sale by any mortgagee purported to be represented by Kirunda & Wasige Advocates and Quickway Auctioneers and Court Bailiffs.”

Meanwhile, Bitature has also spoken out on the matter. “Thank you to all our staff, customers and stakeholders, your support towards Simba Group is heart-warming,” the businessman wrote. “I urge you to disregard the fake news. This attack is intended to cause reputational damage. The laws of Uganda have been upheld and none of our properties are for sale.”

HARD TIMES: Tycoon Bitature Could Lose Skyz Hotel Naguru, Two Other Properties OverĀ  Loans

Pearl Times Reporter
Pearl Times Reporterhttps://pearltimes.co.ug
Latest Uganda news, politics, business, health and entertainment coverage.

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