Court halts sale of Ssebaggala’s house
On April 30, the court registrar Alex Mackay Ajiji upon the application by Equinox International Ltd, issued an interim order stopping another money lending company Grofin from selling off the property of Ssebaggala and Sons Electro Centre, a giant electricity equipment store in Kiyembe, Kampala.
KAMPALA. The High Court has blocked the sale of a commercial house of city businessman Meddie Ssebaggala which two companies are seeking to dispose of in order to recover their respective outstanding loans.
On April 30, the court registrar Alex Mackay Ajiji upon the application by Equinox International Ltd, issued an interim order stopping another money lending company Grofin from selling off the property of Ssebaggala and Sons Electro Centre, a giant electricity equipment store in Kiyembe, Kampala. Equinox petitioned court upon learning that Grofin was intending to dispose of the property in Kololo, comprising 15 apartments, to recover its loan of Shs2 billion to Mr Ssebaggala.
“An interim order which was issued on April 30 restraining the 1st respondent [Grofin], its agents, servants, representatives or anybody deriving the title or authority from it from selling by public auction or disposing the 2nd Respondent’s [Ssebaggala’s] property at Mackenzie Vale, Kololo has been extended until the main suit is disposed of; the case has been adjourned to 5th June for submissions from both parties,” High Court judge Margaret Oumo Oguli ruled yesteday.
Both companies claim they extended loans to Ssebaggala whose combined sum is in the region of Shs4.5 billion. Equinox says its loan to Ssebaggala and Sons has accumulated to more than Shs2.5 billion. Yesterday, Justice Oguli ruled that the earlier court order granted to Equinox was to allow both companies file submissions regarding their claim.
