• Editorial Policy
  • Privacy Policy
  • Who Are We
  • About
Thursday, July 3, 2025
  • Login
The Pearl Times
  • Home
  • News
    • National
    • Business
    • Sports
    • World
  • 2026 Elections
  • People
  • Featured
  • Viewsroom
  • PROSE & POETRY
  • Archives
No Result
View All Result
  • Home
  • News
    • National
    • Business
    • Sports
    • World
  • 2026 Elections
  • People
  • Featured
  • Viewsroom
  • PROSE & POETRY
  • Archives
No Result
View All Result
The Pearl Times
No Result
View All Result
Home News Business

Tycoon Ham in tears as Court of Appeal Judges nullify Shs120bn refund order

Tycoon Ham Kiggundu Gives His Side of the Story on Kigo Land Claimed by Kabaka

Tycoon Ham Kiggundu Gives His Side of the Story on Kigo Land Claimed by Kabaka

Court of Appeal Judges have set aside an order by Justice Henry Peter Adonyo of the Commercial Division of the High Court requiring Diamond Trust Bank (DTB) Uganda to refund tycoon Hamis Kiggundu aka Ham and his companies Ham Enterprises Ltd and Kiggs International Ltd Shs120bn.

In their judgement delivered today, Richard Buteera, Kenneth Kakuru and Christopher Izama Madrama agreed that Justice Adonyo had not granted DTB a fair hearing.

Justices Kakuru, Buteera and Madrama ordered for a fresh hearing into the matter.

“There was no need to enter default judgment which restrained the appellant from being heard. Appeal partially succeeds,” ruled Justice Madrama.

“Amendment of pleadings was beyond the scope allowed within the law. It changed the cause of action. Court could not order enforcement of contract said to be illegal. One party cannot benefit from an illegal contract. Appeal should succeed. He would order that the amended plaint cannot stand,” added Justice Kakuru.

“The claim was not a liquidated demand and it was wrong for the judge to enter a default judgment. Amendment of pleadings was irregular for changing the cause of action. Amended pleadings struck out. Appeal succeeds. Suit should be remitted to the High Court for hearing on the basis of original pleadings,” concluded Butera.

In 2020, Justice Adonyo had ordered DTB Uganda to refund over Shs120bn deducted from the tycoon’s accounts as the financial institutions sought to recover syndicated loans (offered by both DTB Kenya and Uganda).

DTB had deducted the monies — in both Shillings and dollars — from Ham Enterprises Ltd and  Kiggs International Ltd, both owned by Ham.

The banks had extended loans to Ham through these two companies between 2011 and 2016.

DTB Kenya and DTB Uganda would later communicate their intentions to take over Ham’s properties over failure to clear Shs39bn in loans and interest payments.

But Ham quickly dismissed claims by DTB that he had failed to clear the loan and interest. He also alleged that the banks had deducted billions in excess from bank accounts of Ham Enterprises Ltd and  Kiggs International Ltd.

But Ham could not get the Shs120bn and its interest of eight per cent — even with Justice Adonyo’s ruling in his hands.

He would need an order — and pray that no counter-order is issued against his.

Thus, DTB’s lawyers Kiryowa Kiwanuka and Usama Sebuufu outsmarted Ham’s led by Fred Muwema of Muwema and Company Advocates by securing an order staying execution of Adonyo’s ruling.

With Principal Judge Flavian Zeija’s order staying execution of Adonyo’s judgement, DTB Kenya and DTB Uganda comfortably proceeded to the Court of Appeal.

Zeija wanted court to determine two thorny issues: Were transactions between Ham Kiggundu (and his companies) and DTB Bank Uganda and DTB Kenya legal or illegal? Are foreign banks like DTB Kenya required to obtain a licence from the central bank before engaging in a deal like the one involving Ham, Ham Enterprises Ltd and  Kiggs International Ltd?

Court of Appeal Battle of Minds

DTB’s Kiwanuka and Sebuufu argued before Court of Appeal Justices that High Court’s Adonyo ignored the question and evidence of breach of contract, fiduciary and statutory duties.

Sebuufu and Kiwanuka also told the bench that Adonyo did not task Ham, Ham Enterprises Ltd and  Kiggs International Ltd to offer evidence of the claims they made against DTB Kenya and DTB Uganda.

They wondered why Justice Adonyo would want Ham, Ham Enterprises Ltd and  Kiggs International Ltd to benefit from a transaction the companies referred to as an illegality.

For their part, Muwema and Company Advocates (representing Ham, Ham Enterprises Ltd and  Kiggs International Ltd) sought to emphasize their argument that the transaction was an illegality: that DTB Kenya had no license to transact in Uganda.

Share this:

  • Click to share on Facebook (Opens in new window) Facebook
  • Click to share on X (Opens in new window) X

Related

Previous Post

You won’t see heaven! Stella Nyanzi curses MPs for passing Law against homosexuals

Next Post

Full List: Here are 74 Agencies Government has scrapped

Pearl Times Reporter

Pearl Times Reporter

Latest Uganda news, politics, business, health and entertainment coverage.

Related Posts

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda
Elections

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly We Want Money, Not Stories! Arts Teachers Insist after Public Service Minister Promised Salary Increment in 2026 Full Salary Structure for 2024-2025 Financial Year: See How Much Each Government Employee Earns Monthly Government Lifts Freeze on Recruitment of Public Servants
Employment

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly

SAD! Five Killed in UPDF Helicopter Crash in Somalia
Africa

SAD! Five Killed in UPDF Helicopter Crash in Somalia

LIST: See Names of Students Admitted on District Quota and Disability Schemes for All Public Universities for 2025-2026 Academic Year MAKERERE, MUBS FEES STRUCTURE 2025: See How Much Money Students Will Pay for Each of 160 Courses See Names of Students Admitted at Makerere, MUBS on Private Sponsorship for 2024-2025 Academic Year
Featured

LIST: See Names of Students Admitted on District Quota and Disability Schemes for All Public Universities for 2025-2026 Academic Year

Firing Squad for Corrupt UPDF Officers and Government Officials Who Have Stolen Shs1bn and Above – Museveni’s Son CDF Muhoozi Appoints Maj Gen Richard Otto New Defence Intelligence Chief Replacing Birungi Gen.-Muhoozi-Kainerugaba.j
Crime

Firing Squad for Corrupt UPDF Officers and Government Officials Who Have Stolen Shs1bn and Above – Museveni’s Son

LIST: Names of Students Admitted on Government Sponsorship and Private Scheme for Bachelor of Laws at Makerere University LIST: Students Who Passed and Thousands Who Failed Law Pre-Entry Exams
Education

LIST: Names of Students Admitted on Government Sponsorship and Private Scheme for Bachelor of Laws at Makerere University

Leave a Reply

Your email address will not be published. Required fields are marked *

Ad

Stay Connected

  • Trending
  • Comments
  • Latest
Archbishop Cyprian Lwanga accuses lawyers Ebert Byenkya, Julius Galisonga and Bainomugisha of pressurizing him over compensation money for church land in Entebbe and Nsambya.

Archbishop Lwanga Reports Top City Lawyers to Museveni Over Church Money

Minister claims mafia after her life over minerals row

Why Museveni is keenly Watching Companies Donating to Covid19 Fund

More Ugandan Covid patients recover but doctors’ allowances delay

Museveni, sacked EC secretary Sam Rwakoojo and NUP leader Bobi Wine

Were Top EC bosses fired over Bobi Wine NUP Party or Ballot Paper Printing scandal?

Watchman Ministries Pastor and Prophet Elvis Mbonye's anointed Joseph Kabuleta has announced his 2021 presidential bid.

Prophet Mbonye’s ‘Anointed’ Kabuleta declares 2021 presidential bid

Former Kampala deputy lord mayor Sarah Kanyike is one of the six dropped ministers appointed senior presidential advisors.

NEW CABINET: Museveni consoles Six DROPPED Ministers with Presidential advisor positions

PAYMENT ALERTS: Allowances for Gulu Sitting Deposited on MPs’ Bank Accounts. See How Much

PAYMENT ALERTS: Allowances for Gulu Sitting Deposited on MPs’ Bank Accounts. See How Much

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly We Want Money, Not Stories! Arts Teachers Insist after Public Service Minister Promised Salary Increment in 2026 Full Salary Structure for 2024-2025 Financial Year: See How Much Each Government Employee Earns Monthly Government Lifts Freeze on Recruitment of Public Servants

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly

SAD! Five Killed in UPDF Helicopter Crash in Somalia

SAD! Five Killed in UPDF Helicopter Crash in Somalia

LIST: See Names of Students Admitted on District Quota and Disability Schemes for All Public Universities for 2025-2026 Academic Year MAKERERE, MUBS FEES STRUCTURE 2025: See How Much Money Students Will Pay for Each of 160 Courses See Names of Students Admitted at Makerere, MUBS on Private Sponsorship for 2024-2025 Academic Year

LIST: See Names of Students Admitted on District Quota and Disability Schemes for All Public Universities for 2025-2026 Academic Year

Recent News

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly We Want Money, Not Stories! Arts Teachers Insist after Public Service Minister Promised Salary Increment in 2026 Full Salary Structure for 2024-2025 Financial Year: See How Much Each Government Employee Earns Monthly Government Lifts Freeze on Recruitment of Public Servants

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly

SAD! Five Killed in UPDF Helicopter Crash in Somalia

SAD! Five Killed in UPDF Helicopter Crash in Somalia

LIST: See Names of Students Admitted on District Quota and Disability Schemes for All Public Universities for 2025-2026 Academic Year MAKERERE, MUBS FEES STRUCTURE 2025: See How Much Money Students Will Pay for Each of 160 Courses See Names of Students Admitted at Makerere, MUBS on Private Sponsorship for 2024-2025 Academic Year

LIST: See Names of Students Admitted on District Quota and Disability Schemes for All Public Universities for 2025-2026 Academic Year

ADVERTISEMENT

Ad

The Pearl Times

The Pearl Times Is an online media publication for news and analysis from Uganda, the Greatest lakes Region and the world. The Pearl Times is your trusted source of news and analysis from Uganda and the rest of the world in the beats of politics, business, entertainment, technology, education and health.

Follow Us

Popular Posts

  • From Solomon Sserwanja's 'Audio' to Kakwanzi 'Leaked Video,' Here's How to Verify Fake or AI Generated Videos, Audios Elizabeth Kakwanzi Katanywa: So-Called Leaked Video & Dirty Politics of Western Youth MP Elections?

    Elizabeth Kakwanzi Katanywa: So-Called Leaked Video & Dirty Politics of Western Youth MP Elections?

    0 shares
    Share 0 Tweet 0
  • ‘Leaked Video’ Aside, Who are Elizabeth Kakwanzi Katanywa’s Opponents in Western Youth MP Election?

    0 shares
    Share 0 Tweet 0
  • IN PICTURES: Interesting Photos of Elizabeth Kakwanzi Katanywa Strategizing for Western Youth MP Position

    0 shares
    Share 0 Tweet 0

Recent News

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda

Calvin Echodu Officially Nominated To Contest For NRM Vice Chairperson Eastern Uganda

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly We Want Money, Not Stories! Arts Teachers Insist after Public Service Minister Promised Salary Increment in 2026 Full Salary Structure for 2024-2025 Financial Year: See How Much Each Government Employee Earns Monthly Government Lifts Freeze on Recruitment of Public Servants

Full Salary Structure for 2025-2026 Financial Year: See How Much Each Government Employee Earns Monthly

  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2024 - The Pearl Times by The Pearl Times.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
error: Content is protected !!
No Result
View All Result
  • Home
  • News
    • National
    • Business
    • Sports
    • World
  • 2026 Elections
  • People
  • Featured
  • Viewsroom
  • PROSE & POETRY
  • Archives

© 2024 - The Pearl Times by The Pearl Times.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.