MP sued over Shs156m bank loan

The Commercial Court has summoned Busiro South MP, Mr Joseph Balikudembe to defend himself on allegations that he failed to pay a Shs156million loan he acquired from Housing Finance Bank.
According to the court documents signed by the court Registrar Thaddeus Opeseni, Balikudembe has been given only 10 days within which to defend him self on the allegations.
The said money arose from a personal loan he got from Housing Finance Bank but failed to pay since May 2011.
The bank says Mr Balikudembe applied for a swift loan of Shs100million payable in 6 months instalments but he only made a few deposits leaving a balance of Shs156million.
In September last year, Mr Balikuddembe was arrested at a wedding ceremony on the orders of Buganda road court for allegedly issuing false cheques to a businessman, Mr Emmanuel Masesane.
Upon his arrest and questioning, Mr Balikudembe argued that he only acted as a witness in the Shs630million transaction involving an elderly couple from his constituency and Mr Masesane.
Mr Balikuddembe, who was the bestman at the wedding of a close friend at Rubaga Cathedral, was whisked away by the Police to the cathedral police post where he was questioned about the money and released.
He was arrested for allegedly defying court summons to answer criminal charges of bouncing cheques.