Ugandan Court Suspends Judgement Outlawing Cross-Border Lending

Ugandan High Court has suspended the enforcement of a ruling that banned foreign banks from participating in syndicated loans in the Ugandan banking sector, pending the hearing and determination of the matter.

On October 13, Justice Flavian Zeija the principal Judge of the Court's Commercial Division in Kampala issued an interim order for stay of execution of the decree in High Court Civil Suit No.43/2020 and Miscellaneous Application No. 654 of 2020 pending the determination of the main application for stay of execution.

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