DP’s Mbidde risks losing Masaka hotel
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:
On May 31, Cranimer Associates, one of the High Court bailiffs and debt collectors, placed an advert in the Daily Monitor indicating that Elsie Hotel was on sale
The Vice President of the Democratic Party (DP) and a former member of the East African Legislative Assembly (EALA), Mr Fred Mukasa Mbidde, is on the verge of losing his hotel in Masaka City.
Elsie Hotel Limited is located on Plot 12-14 on Nalubale Street.
On May 31, Cranimer Associates, one of the High Court bailiffs and debt collectors, placed an advert in the Daily Monitor indicating that Elsie Hotel was on sale.
According to Mr Brandon Cranimer, a manager at Cranimer Associates Limited based in Kampala, they were hired by a financial institution that lent Mr Mbidde money he has since failed to pay back. He declined to disclose how much Mr Mbidde has not yet paid, citing client confidentiality.
“Our task is to look for a potential buyer of the property on behalf of our client if the 30 days elapse before he (Mr Mbidde) clears the debt,” he said at the weekend.
“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,” Mr Cranimer added.
Elsie Hotel was opened in October 2021 and is currently managed by his wife, Ms Phiona Nayebale.
“It’s not true, those are baseless allegations,” Mr Mbidde said at the weekend.
In 2021, Mr Mbidde contested for Nyendo-Mukungwe parliamentary seat but lost to National Unity Platform’s Vice President for Buganda Region and Leader of Opposition in Parliament, Mr Mathias Mpuuga.
