Bailiffs move to take over Mbidde’s Masaka hotel over debts
Mr Fred Mukasa Mbidde's hotel in Masaka City which bailifs have threatened to takeover on allegations that he failed to service a loan. PHOTO/ANTONIO KALYANGO.
What you need to know:
- It is still unclear whether Mr Mbidde secured the loan for construction of the hotel as it was built at a high speed in the run up to the 2021 general elections which Mr Mbidde used as a key campaigning tool while describing himself as an investor in Masaka City.
The Vice President of the Democratic Party (DP) and a former member of the East African Legislative Assembly (EALA), Mr Fred Mukasa Mbidde on verge of losing a prime property in Masaka City to debtors over unpaid bank loans.
Elsie Hotel Limited which is up for sale is located on Plot 12-14 on Nalubaale Street in Masaka City.
On May 31, Cranimer Associates, one of the High Court Bailiffs and Debt collectors placed an advert in the newspaper indicating that Elsie Hotel was on sale.
According to Mr Brandon Cranimer, a manager for Cranimer Associates Limited based in Kampala, they were hired by a financial institution he declined to disclose which reportedly lent Mr Mbidde an unspecified amount of money which the latter reportedly failed to repay.
“Our task is to look for a potential buyer of the property on behalf of our client if the 30 days elapses before he (Mr Mbidde) clears the debt,” he said.
According to Cranimer, if Mr Mbidde doesn’t respond to the advert, they will take over control of the hotel to enable any interested buyer to inspect the property.
“The procedure is clear according to the Mortgage Act 2009, we give 14 days for the occupants to vacate the facility and the owner has 30 days to either pay or lose the property to the highest bidder,” he added.
Elsie Hotel which Mr Mbidde named after one of his daughters was opened in October 2021 and is currently managed by his wife, Ms Phiona Nayebale.
In an interview with Mr Mbidde he refuted the claims of owing any sum of money to any financial institution.
“It’s not true, those are baseless allegations,” he said before hanging up on the phone.
It is still unclear whether Mr Mbidde secured the loan for construction of the hotel as it was built at a high speed in the run up to the 2021 general elections which Mr Mbidde used as a key campaigning tool while describing himself as an investor in Masaka City.
He contested for Nyendo-Mukungwe parliamentary seat but lost to National Unity Platform (NUP) Vice President for Buganda Region and Leader of Opposition in Parliament, Mr Mathias Mpuuga.
