The long-standing financial dispute between Kampala’s celebrated Young Tycoon Hamis kiggundu and Diamond Trust Bank (DTB) is now a thing of the past after both sides finally settled their hitherto differences amicably. As a result, all court cases have been dropped.
We understood that in a closed meeting held between the two Giant C.E.Os; Hamis Kiggundu Group C.E.O HAM GROUP OF COMPANIES and Nasim Devji, the C.E.O of DIAMOND TRUST BANK GROUP, voice of reason prevailed and the two realistically resolved their financial differences that have occupied court’s space for the past 8 years.
“They have resolved to put all their past financial differences aside to give way for reason to prevail towards securing their 11-year-long banking relationship and towards securing their possible future financial gains, progress, and prosperity” explained an inspector.
Kiggundu, the proprietor of Ham Enterprises Limited and Kiggs International (U) Limited dragged DTB -Uganda, and DTB-Kenya to Commercial Court for allegedly fraudulently siphoning over sh120billion from his accounts without his knowledge and consent which consequently directed that he be refunded the money taken from his account.
The Commercial Court ruled in favour of Ham and ordered DTB to pay Shs120 billion.
DTB appealed against the decision of the lower court and in its subsequent judgement, the Court of Appeal ordered a retrial of the matter in the Commercial Court.
Dissatisfied with the Court of Appeal’s decision, Ham challenged the same before the Supreme Court.
The rest is now history!