Wealthy businessman Sudhir Ruparelia has again floored Bank of Uganda after the later accepted to change Lawyers.
Bank of Uganda is now being represented by Sebalu Lule & Co. Advocates in a multibillion case where BoU accuses Sudhir Ruparelia of taking out billions of shillings from the Crane bank hence its collapse.
Initially, Bank of Uganda was being represented by Timothy Masembe Kanyerezi of MMAKS Advocates and David Mpanga from FK Mpanga and Company Advocates.
To Sudhir Ruparelia, the two lawyers had a conflict of interest since they had worked for Crane Bank before.
Sudhir also blames BoU for breaching key terms of a Confidential Settlement and Release Agreement (CSRA) he signed with the central bank.
Sudhir now wants court to direct that the lawyers be listed as his witnesses in the case.
“We as board members believed that MMAKS Advocates as our advisors were in fiduciary relationship with us and had an ethical duty of fidelity, loyalty and confidentiality and by accepting and prosecuting instructions of Bank of Uganda, MMAKS Advocates is in breach of its fiduciary obligations to me,” Sudhir said.
Through his lawyers of Kampala Associated Advocates, Sudhir told court that on several occasions, companies in which he was a shareholder gave instructions to MMAKs Advocates and sought legal assistance from them.”
One of the tycoon’s lawyers Bruce Musinguzi went on to ask court to put into consideration a confession where counsels from MMAKS advocates admitted to getting instructed to look into the shareholding of Crane Bank as well as holding various trainings for Crane Bank Directors.
In reply to these submissions, Counsel Masembe from MMAKS had argued that his firm never represented Sudhir as an individual but his companies.
“We the lawyers are independent people; we are not mouthpieces of our clients,” he stressed.