The Commercial Court has asked Bank of Uganda and tycoon Sudhir Ruparelia to make another attempt at resolving their Shs 400 billion case outside of court.
The Court yesterday appointed city advocate Harriet Magala of Kituuma – Magala and Company Advocates to mediate in the case where Bank of Uganda wants Sudhir to repay up to Shs. 397billion that he allegedly stole from Crane Bank Ltd.
Judiciary spokesperson and Registrar in charge of mediation at Commercial Court, Vincent Mugabo made the revelation and described the appointed mediator as an experienced person in this field.
“The court system has accredited mediators who assist court in mediation. Ms Harriet Grace Magala has been mediating at the Commercial Court since 2010 and will be mediating the same,” Mugabo said.
This will not be the first attempt for the two camps to amicably resolve this historic case. In March this year they sat and agreed on a framework for Sudhir to repay the money and signed a Confidential Settlement and Release Agreement (CSRA).
Each party however, accuses the other of breaching this agreement.
Mediation is highly prioritized in such civil suits by Uganda courts, with hope to save court’s time and resources incurred in case of full trial.
If the two parties consent and reach an agreement, they will bring it to the attention of court; and if they don’t the case will proceed for trial.
Sudhir recently filed his defence in the case, vehemently denying the accusations that he illegally extracted Shs. 397billion from Crane Bank, and also transferred the bank’s land titles to his company Meera.
The tycoon went on to file a counter-suit against Bank of Uganda and Crane Bank, accusing them of breaking a legally agreement they had signed in March.