KAMPALA – Bank of Uganda has been forced into a change of advocates in their ongoing commercial court dispute with business mogul Sudhir Ruparelia, following the acrimonious closure of Crane Bank last year.
The Central Bank has now assigned Sebalu, Lule & Co Advocates replacing Senior Counsels David Mpanga and Timothy Masembe Kanyererezi of AF Mpanga and MMAKS law firms respectively, after the duo became a subject of controversy with Mr Sudhir objecting to their presence on the opposing team on grounds that they have represented him before. The court agreed with Mr Sudhir’ s objection and the duo was thrown off the bar last year.
Sources at Bank of Uganda told PML Daily that Lule, Sebalu and Co Advocates were handed the multi-billion shilling contract on Thursday March 22 and immediately assumed the duties of representing Central Bank.
Sebalu and Lule law firm is one of the oldest indigenous firms in Uganda.
Mr Mpanga and Mr Masembe found themselves caught up in a web of conflict of interest, having done work for Crane Bank and this contradicted the confidentiality clause that governs the banking sector.
At the time of replacing them, BoU had reportedly paid the two law firms over Shs4 billion in litigation fees’ settlements.