It’s hardly a day after city Tycoon Ham Kiguundu started celebrating his big win over Diamond Trust Bank-DTB Uganda and Kenya in court and an appeal has been filed.
On Wednesday afternoon, Justice Justice Henry Peter Adonyo ruled in favor of Ham and ordered DTB to refund him more than 120 Billion Shillings they illegally deducted from two accounts of Kiggundu.
Ham the proprietor of Ham enterprises and Kiggs International (U) limited has dragged DTB -Uganda, and DTB-Kenya to Commercial Court for illegally draining over sh 120billion from his accounts without his knowledge and consent.
Kigundu had earlier acquired a loan amounting to 39 .7 billion shillings from DTB and according to the Bank, he had defaulted on payment.
However, in August 2020, Ham petitioned the commercial court saying that the money that was withdrawn from his dollar and shillings accounts was in excess yet he had also fully paid the loan.
He argued that 85 billion Shillings and 34 billion Shillings were illegally deducted by DTB Uganda and DTB Kenya from two accounts of his companies without his knowledge and consent.
Now in the notice of appeal on Thursday, the two banks through their lawyers of K and K Advocates say they are not satisfied with the ruling by Justice Adonyo.
“Take notice that Diamond Trust Bank Uganda Limited and Diamond Trust Bank Kenya Limited the above-named defendants being dissatisfied with the Judgement and order by Honorable Dr Justice Henry Peter Adonyo delivered on October 7, 2020, intend to appeal against the whole decision to the court of Appeal” reads the notice in part.
