Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank
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Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank

Court orders Stanbic bank to freeze accounts of Chinese firm over Isimba dam

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The high court has ordered Stanbic Bank to freeze the accounts of China International Water and Electric Corporation over the company’s failure to compensate nine owners of the quarries which were fenced off by the company.

The company holds both Ugandan shillings and United Sates dollars accounts in Stanbic Bank.

Those that sued the company for compensation of about Shs202 billion include; Disson Nsubuga, Berenado Ssajabi, John Apoogo, John Wafula, Okuni Owori , Adilian Okuni, Ali Kagoda, Celina Atapu and Rose Achieng.

The group sued the Attorney General together with the company through their lawyers Rayner Magyezi of Kampala Associated Advocates. The accounts will remain closed pending the hearing and determination of the case. The company is required to defend itself on February 26, 2019.

In May 2018, the group sued the company in Mukono High Court for a compensation of petitioner Shs202 billion, which they said was the adequate and fair compensation, for the 27.852 acres in Nakalooke village Kayunga district.

The Applicants said then that in 2014, when the ministry of energy started the multi-million Isimba hydro power dam, government compulsorily without authorization according to Ugandan land laws, government engaged Kagga and partners to access the parcels of land for compensation of applicants and other project affected persons.

The petition noted, the land was condoned off and a quarry was established and the contractor started blasting rocks yet it was not put under the accessed property. The owner of the hitherto land protested the development but his pleas fell on deaf ears.

Petitioners revealed that the purchase agreements and proof of ownership agreements were all retained by valuing company.

The Isimba case is not the first scenario where local fight with government over compensation.

The people round Karuma hydro power project had gone uncompensated for a similar rock till when high court HCCS No. 252 OF 2015 Etot Paul peter and other Vs attorney general and Sino hydro cooperation Ltd to compensate the applicants.

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