The High Court Land Division has ordered dfcu Bank to vacate 48 leasehold properties belonging to the defunct Crane Bank.
In a ruling issued on October 24, 2023, Justice Tadeo Asiimwe also ordered dfcu Bank to pay former Crane bank Shs2.4 billion in damages with 8% interest per year for trespassing on property of the defunct bank.
“A declaration that the transfer of the leasehold interests in the suit properties from Crane Bank Limited into the names of the 1st Defendant was tainted with illegality and fraud and is therefore invalid,” he ruled.
“A declaration that there are no valid leases in respect of the suit properties. The said leases are therefore declared to be invalid and absolutely determined on account of breach and illegality,” he added.