KAMPALA —A city lawyer has dragged tycoon Godfrey Kirumira to court for allegedly taking over land that was handed to him as security for a loan.
Deox Tibeingana in his law suit filed before the High Court Commercial division says that his engaged in real estate property business that involves acquiring land, creation of condominium and other certificates of title, developing of the land and eventually selling it to his customers.
He says that the tycoon is among the financiers (money lenders) of his business with whom they have had series of transactions.
Tibeingana (plaintiff) states that sometime in November 2017, while desirous of obtaining funds for developing his projects approached Kirumira with a view of obtaining a loan from him with some properties handed over as security.
“The defendant (Kirumira) accepted to avail Shs2,300,000,000. As security for the money the defendant who was in the know of the plaintiff’s business and who had lent him money before asked for security in terms of certificates of title for the very projects the plaintiff was to develop and blank cheques,” reads in part the court documents.
Tibeingana says that pursuant to their agreement he handed over 3 titles, 4 Milo register block each valued at Shs300m, however after sometime he borrowed Shs120m from a lender organised by a one Francis Nshekanabo who unknown to him turned out to be a stooge of Kirumira to be paid in one day thereby handing over another title and a transfer form executed by a one Denis Damba a client of the plaintiff.
Court documents indicate that contrary to the agreement before the parties, Kirumira transferred the the title given to him his as security into the names of one Grace Namara, his wife with whom Tibeingana has never had any transaction.
” The defendant became evasive when being called upon to receive the money and instead registered the land into the names of his said wife,” court documents further indicate.
It is further stated that amidst pressure from Ddamba who wanted his title, Kirumira gave an unreasonable conditions of availing him two titles which Tibeingana had already sold to the third parties.
Tibeingana shall aver and contend that his dealings with the defendant were purely money lending business and not for sale of property.
Through his lawyers of KSMO Advocates, Tibeingana contends that he has lost over Shs1 billion as money borrowed for extinguishing the money lenders claim, criminal suit, pressure from police which is because of Kirumira’s acts.
He also wants a declaration that the transfer, registration and taking over of property at Munyonyo passed on to the defendant is null and void.
In the same court Tibeingana also sued Kirumira’s son Gideon Kabuye Kirumira who is the manager of his properties separately for allegedly declining to bring back all securities handed to him for a loan and refusing to be paid his balance.
Tibeingana claims that he secured a loan of Shs650million from Kabuye thus handing him several land titles and a logbook of motor vehicle UAZ 750 N as requested by Kabuye.
Court documents indicate that Tibeingana has since paid back Shs240m after much hassling to get Kabuye to release one of titles.
” In July 2019, the plaintiff (Tibeingana) called on the defendant (Kabuye) to bring back all his securities and to be paid the balance but the defendant has since refused to pick the plaintiff’s calls or accept to meet him all of a sudden claiming he is a purchaser and owner of the properties,” reads in part the court documents.
Tibeingana states that his vehicle chevrolet trailblazer model 2017 was transferred to Kabuye’s name as security.
He states that Kabuye connived with his brother a one Gerald Kalungi pretending to borrow the car and instead impounded the same and using it instead of parking it as agreed thus losing hope of ever recovering his brand new car bought from the bond at Shs220m.
He is now seeking a court declaration that his loan be discounted by the value of the car.