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Daily Monitor Wednesday February 17 2021 . Stanbic Bank has filed a notice of appeal in which it seeks to challenge a decision that implicated it and seven of its staff in an illegal transfer of a client’s mortgaged properties. Summary Justice Richard Wejuli Wabwire ruling   It is my finding that the sale of the applicant’s securities to ... a company incorporated on February 3, 2020, three months after the advert for sale in November 2019 and barely a month before sale on February 26, 2020, was merely a side show and a shabby disguise intended to circumvent the provisions of the Mortgag...

Daily Monitor Monday February 15 2021 Court found that Stanbic employees created a cover to dispose of mortgaged properties to a company in which they are directors. PHOTO/FILE. Summary Court found that a client’s mortgaged properties were sold to a company that had been formed on February 3, 2020 by seven Stanbic employees, three months after the advert for sale was published in November 2019.  Advertisement At least seven Stanbic Bank employees illegally transferred mortgaged securities to a company that they had formed three months after the distressed properties had been advertised for...

Daily Monitor Sunday February 14 2021 Crested Towers that houses the Stanbic Bank head offices in Uganda. Court has condemned Stanbic Bank to pay more than Shs400m to Macdowel Food and Beverages. PHOTO/ NET Advertisement The  Commercial Court has condemned Stanbic Bank to pay more than Shs400m after some of its top staff created a sham company that they used to sell to themselves  several plots of land belonging to  a customer. Justice Richard Wejuli Wabwire, in his ruling on Friday, said he could not turn a blind eye when employees of Stanbic Bank circumvented the law to the disadvantage ...