Kampala — Head of the Commercial Court Judge David Wangutusi has advised Bank of Uganda (BOU) and businessman Sudhir Ruparelia to explore an amicable settlement of their differences or else one of them will be gravely hurt.
Justice Wangutusi also set November 14, 2017 to deliver his ruling on whether lawyers Timothy Masembe Kanyerezi and David Mpanga should stand down from representing Crane Bank and Bank of Uganda against Sudhir Ruparelia.
Court was told Wednesday morning that the said lawyers from MMAKS and AF have a case of conflict of interest as they have been listed by Sudhir as his witnesses to testify in his favour against Bank of Uganda allegations.
One of Sudhir's lawyers Bruce Musinguzi argues that their client has already expressed fear that he may not get justice because Masembe and Mpanga have been his lawyers for twelve years and are privy to confidential information which might be used to his prejudice.
Musinguzi has also cited numerous transactions to court in which Masembe and Mpanga represented Crane Bank, Sudhir Ruparelia and Meera investments.
However, in response, Masembe and Mpanga did not deny the said transactions but maintained that they did not deal with Sudhir in his individual capacity, something that would qualify him as their former client.
They then asked Justice Wangutusi to maintain them as Crane Bank lawyers saying there is no evidence adduced by Sudhir to show that they have in any way breached their professional code of conduct.
Meanwhile other parties to this case including businessman Amos Nzeyi the founder of now defunct National Bank of Commerce, have welcomed justice Wangutusi's advice for parties to embrace mediation. He said that he may get relief for his five year grievance ever since his bank was sold by Bank of Uganda.