Court of Appeal judge, Kenneth Kakuru has rebuked one of the parties in the businessman Hamis Kiggundu-Diamond Trust Bank (DTB) case for sending him emissaries with financial proposals to influence his decision in the matter.
Kakuru made the revelation yesterday while issuing orders to the two parties to file submissions on the matter and address specific matters in the case following Commercial court ruling that directed Diamond Trust Bank Uganda (DTB-Uganda) and Diamond Trust Bank-Kenya to refund Shs120 billion to Kiggundu.
Kakuru directed the lawyers and their clients to stop sending emissaries to him to influence his judgement.
He said “this matter had been raised by the Principal Judge and he was raising it again. They should allow the courts to perform their duties.” He warned.
The Judge also dismissed application for leave to appeal against the stay order as well as the Appeal against the Stay order filed by Ham Enterprises on grounds that the appeal was already in motion and had been fixed for hearing.
Kakuru’s warning stems from the decision taken last year by Commercial court judge Dr Henry Peter Adonyo that ordered DTB-Uganda to refund all monies deducted from Kiggundu’s accounts in a case involving a syndicated banking agreement between DTB-Uganda and DTB-Kenya.
Kiggundu, through his companies; Ham Enterprises and Kiggs International, had sued DTB-Uganda, accusing the banks of illegally taking away more than Shs120 billion from his bank account in Uganda without consent while he was serving his loans with the same banks.
Justice Adonyo agreed with Kiggundu and ruled that the credit facilities offered by DTB-Kenya to Kiggundu were illegal since DTB Kenya is not licensed to carry out the financial institution business in Uganda.
Adonyo also ordered the banks to return the properties that Kiggundu had mortgaged, refund of the monies the banks had deducted illegally from his accounts. The judge also awarded costs to Kiggundu and imposed a 6 per cent interest on the monies among other several declarations.
But the banks through their lawyers led by Kiryowa Kiwanuka, petitioned the principal judge asking him to issue staying orders such that they do not implement justice Adonyo’s decision. Kiwanuka argued that if the application is not granted, the banks would suffer substantial loss by being required to pay Shs120 billion and approximately Shs9.6 billion in interest on top of releasing the securities deposited with the bank.
Kiwanuka also noted that the decision would to have far-reaching implications on the entire banking sector in Uganda if the implementation is done before their appeal, which has high chances of success is not yet determined.
In his ruling, Zeija noted that the orders need to be stayed because justice Adonyo issued orders in favour of one party in a transaction that he found illegal but made no mention of the sums Kiggundu had borrowed.
Here, Dr Zeija said it important to stay the implementation so that the Court of Appeal can first determine whether the transaction was illegal since it remains an issue of contention in as far as the Contract Act of 2010 is concerned. He said this is because the records show that the banks received independent advice from lawyers before signing the agreements.
Justice Zeija also said the Court of Appeal also needs to first answer the question of agency banking – whether foreign banks that are not trading in Uganda are required to obtain a license from Uganda to execute a contract. The principal judge explained that Bank of Uganda recently released a statement indicating that a license was not required in the transaction under dispute, adding that the Court of Appeal has to first determine whether Bank of Uganda was right or not.
However, yesterday justice Kakuru reasoned that the application by Bank of Uganda to be admitted as Amicus Curiae was disallowed on grounds that BoU isn’t not a neutral party and gave a ruling that they don’t pass the test for Amicus Curiae. They however advised them to join the case as an Interested Party, make an application by 3rd February, other parties respond and they go back to court on February 17, for the hearing of the application.
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Understanding COSC Certification and Its Importance in Horology
COSC Validation and its Strict Standards
Controle Officiel Suisse des Chronometres, or the Official Swiss Chronometer Testing Agency, is the official Switzerland testing agency that attests to the precision and precision of wristwatches. COSC accreditation is a sign of quality craftsmanship and trustworthiness in timekeeping. Not all watch brands pursue COSC accreditation, such as Hublot, which instead adheres to its own stringent standards with movements like the UNICO calibre, reaching equivalent accuracy.
The Science of Precision Chronometry
The core mechanism of a mechanical timepiece involves the spring, which supplies energy as it loosens. This mechanism, however, can be prone to environmental elements that may influence its accuracy. COSC-certified mechanisms undergo demanding testing—over fifteen days in various circumstances (5 positions, three temperatures)—to ensure their durability and dependability. The tests measure:
Mean daily rate precision between -4 and +6 secs.
Mean variation, peak variation levels, and impacts of thermal changes.
Why COSC Validation Is Important
For watch aficionados and connoisseurs, a COSC-certified watch isn’t just a piece of tech but a demonstration to lasting excellence and accuracy. It represents a watch that:
Offers excellent dependability and precision.
Offers guarantee of superiority across the entire construction of the watch.
Is apt to retain its worth more efficiently, making it a sound choice.
Famous Timepiece Manufacturers
Several well-known brands prioritize COSC certification for their timepieces, including Rolex, Omega, Breitling, and Longines, among others. Longines, for instance, presents collections like the Archive and Spirit, which showcase COSC-validated mechanisms equipped with innovative materials like silicone balance springs to boost durability and efficiency.
Historic Context and the Development of Chronometers
The idea of the timepiece originates back to the need for precise chronometry for navigational at sea, emphasized by John Harrison’s work in the 18th cent. Since the official foundation of COSC in 1973, the validation has become a yardstick for assessing the accuracy of luxury timepieces, continuing a legacy of superiority in horology.
Conclusion
Owning a COSC-validated watch is more than an aesthetic selection; it’s a dedication to excellence and precision. For those valuing accuracy above all, the COSC validation provides peace of mind, ensuring that each accredited timepiece will operate dependably under various conditions. Whether for individual contentment or as an investment, COSC-certified timepieces distinguish themselves in the world of horology, maintaining on a tradition of meticulous timekeeping.
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Casibom’un güvenilir bir kumarhane sitesi olması da gereklidir bir artı sağlıyor. Lisanslı bir platform olan Casibom, duraksız bir şekilde keyif ve kazanç sağlama imkanı sunar.
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10배레버리지
로드스탁과의 레버리지 스탁: 투자의 새로운 분야
로드스탁을 통해 제공되는 레버리지 방식의 스탁은 주식 투자법의 한 방법으로, 큰 수익률을 목표로 하는 투자자들을 위해 유혹적인 옵션입니다. 레버리지 사용을 이용하는 이 방법은 투자자가 자신의 자금을 넘어서는 투자금을 투입할 수 있도록 함으로써, 증권 장에서 더 큰 힘을 행사할 수 있는 기회를 공급합니다.
레버리지 방식의 스탁의 원리
레버리지 방식의 스탁은 기본적으로 자본을 차입하여 투자하는 방식입니다. 예시를 들어, 100만 원의 자금으로 1,000만 원 상당의 주식을 구매할 수 있는데, 이는 투자하는 사람이 기본적인 자본보다 훨씬 더욱 많은 주식을 구매하여, 주식 가격이 상승할 경우 상응하는 더욱 큰 이익을 얻을 수 있게 됩니다. 하지만, 주식 가격이 떨어질 경우에는 그 손실 또한 커질 수 있으므로, 레버리지를 이용할 때는 신중해야 합니다.
투자 전략과 레버리지 사용
레버리지는 특히 성장 가능성이 큰 사업체에 투입할 때 유용합니다. 이러한 기업에 높은 비중으로 투자하면, 잘 될 경우 상당한 수익을 획득할 수 있지만, 그 반대의 경우 많은 위험도 감수하게 됩니다. 그렇기 때문에, 투자하는 사람은 자신의 리스크 관리 능력을 가진 장터 분석을 통해, 어느 사업체에 얼마만큼의 자금을 투자할지 결정하게 됩니다 합니다.
레버리지의 장점과 위험 요소
레버리지 방식의 스탁은 큰 수익을 약속하지만, 그만큼 큰 위험도 동반합니다. 주식 거래의 변화는 추정이 곤란하기 때문에, 레버리지 사용을 이용할 때는 항상 시장 동향을 정밀하게 관찰하고, 피해를 최소화하기 위해 수 있는 방법을 구성해야 합니다.
결론: 조심스러운 선택이 요구됩니다
로드스탁에서 제공된 레버리지 스탁은 효과적인 투자 도구이며, 잘 이용하면 상당한 수익을 가져다줄 수 있습니다. 그렇지만 높은 위험도 신경 써야 하며, 투자 결정이 필요한 사실과 신중한 생각 후에 진행되어야 합니다. 투자하는 사람의 재정 상황, 위험 수용 능력, 그리고 장터 상황을 반영한 균형 잡힌 투자 계획이 핵심입니다.