Businessman loses buildings over loan

A business man in Lira town has lost two major buildings over Shs1.1 billion loan. Mr Jackson Apule secured the loan from Housing Finance Bank in 2002 to boost his business empire, but he failed to service it.
The bank sued the businessman in 2012 and in May this year, the judgment was pronounced by the High Court in Lira in its favour. Subsequently, Mr Apule (the debtor) was ordered to pay the money but he failed.
A group of court bailiffs with police from Kampala stormed Mr Apule’s building located on Ayer Road in the heart of Lira town and another one in Adyel Division.
Mr Barnabas Twesigomuhangi from Perfect Associates Auctioneers and High Court Bailiffs, Kampala, evicted tenants from Apule's building on Ayer Road and Japu Palace Hotel Limited located in Adyel Division in an exercise that took nearly three hours.
Mr Twesigomuhangi said he was acting on the orders from High Court in Lira.
The officer in-charge of Lira Central Police Station, ASP Joshua Twongo, who witnessed the events, told Daily Monitor that the exercise was peaceful.
“As police our work was to witness the execution and indeed it was executed peacefully without any chaos or violence,” he said.
Mr Apule declined to comment but he was looking uneasy and surprised about the turnout of events.