City tycoon and proprietor of Ham properties, Hammis Kiggundu is at logger heads with Diamond Trust Bank for not repaying a loan.
Ham apparently has a debt amounting to Ugx 39.7 Billion from DTB.
He borrowed the money in four turns, $6.2m, $3.2m, $458,604 and sh2.8b from both DTB Uganda and DTB Kenya between February 2011 and September 2016.
However, he claims that the money was deducted from his dollar account by the bank and therefore saw no need to repay the money.
DTB however released a statement this week in which they stated that Ham Kiggundu a loan time client of the bank borrowed money and failed to repay.
It is also continues to state that together with the bank, Ham agreed on how they could find ways in which the money would be repaid back to the bank.
The bank also admits to giving timely reminders to Ham Kiggundu about the pending loans to which he continued to ignore.
When the bank continued to deduct money from his dollar account as agreed between both parties, Kiggundu filled a temporary injunction to stop the bank from deducting his money.
The injunction also stops DTB from asking for 30% of his loan to be paid now.
His loans were consolidated in 2018 and were to be paid back by 23rd August 2023.
DTB has in turn filed a defence where they will present evidence showing the previously made agreements between the bank and Ham Kiggundu.
The case will be heard in commercial court on 27th of this month.
