DFCU bank summoned to explain why it has refused to pay-off Crane Bank debts

By Ruth Anderah:

The Commercial Court has summoned DFCU bank to file a defence within 15 days explaining why it has refused to pay -off debts that were incurred by the now dissolved Crane Bank.

This is after an advertising company; Premier Advertising and media Ltd sued DFCU bank claiming it demanded 112 million shillings from Crane Bank at the time Bank of Uganda transferred all its assets and liabilities to DFCU.

According to the company manager David Esiat, the said money arises out of an advertising contract that Crane Bank entered into with his company to market its services.

He says that despite repeated demands and reminders to DFCU bank, it has refused to settle this debt which has occasioned loss to his business.