Sunday July 6 2014

Musumba’s property to be sold over loan


Kampala- Property belonging to former State minister for Regional Foreign Affairs Isaac Musumba is facing sale over an unpaid bank loan.

The property has been declared for sale by public auction within 30 days in a move to recover the bank money.

According to an announcement issued by the bank’s lawyers in the media, the property includes land, a storeyed building and boys quarters located on Plot 36 Nakasero Road, Kampala. The property is registered in the names of Isaac Isanga Musumba.

“Upon instructions from our client a financial institution and the registered mortgagee, we shall proceed to sell the mortgagor’s property mentioned, unless the debtor/mortgagor pays to us all the monies owed plus our fees, costs and disbursements before date of sale,” reads the notice from Muwema and Mugerwa Advocates, the bank’s lawyers.

The lawyers refused to reveal the amount of the loan or the bank from where Mr Musumba, also former Buzaaya County MP in Kamuli District, acquired the loan.

They said they were under strict instructions from their client not to disclose the details of the case.

Not a big issue
When contacted on Friday, Mr Musumba said he had learnt of the impending auction of his property through a telephone call from a friend.

“For now, I cannot comment about the matter because I am out of town. But I will handle it on Monday when I come back,” Mr Musumba said in a telephone interview but added it was not a big issue.
His application, urging court to halt the sale of his property is set for hearing before a judge tomorrow.

Mr Musumba’s lawyers asked court to temporarily stay the intended sale to allow him appeal.

Efforts to get further details from the court file were futile as court officials said it was before the judge for perusal.

But Mr Opesen Thaddeus, the Assistant Registrar for Commercial Court, confirmed the application had been set for hearing tomorrow.