Uganda: Bank of Uganda-Sudhir Legal Showdown - Why the Chips Are Down

analysis

Kampala — Uganda's central bank is on trial. Real estate magnet Sudhir Ruparelia is on trial. Meera Investments Limited is on trial. The Judiciary, too, is on trial.

When Bank of Uganda (BoU) took over, put under receivership and eventually sold Crane Bank Limited, until recently billed one of Uganda's big three banks, it would have been farfetched to envision a critical legal battle out of the fog of uncertainty that followed the sudden twist of events for one of East Africa's moneyed businessmen, once tiered by Forbes magazine as East Africa's richest man at $1.1 billion.

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