The Court of Appeal has temporarily halted proceedings in the case in which Simbamanyo Estates Limited is opposing Equity Bank's sale of mortgaged property, pending the result of the substantive stay of proceedings petition.
The court granted an explicit injunction stopping the High Court's Commercial Division from progressing in the long-running legal struggle between Simbamanyo Estates and its managing director, Peter Kamya, and Equity Bank Limited, Luwaluwa Investments Limited, and Katende, Ssempebwa, and Company Advocates.
Honorable Justice Cheborion Barishaki of the Court of Appeal ruled that the petitioners' motion for temporary relief is necessary to preserve the status quo until the substantive appeal for stay of proceedings is heard and determined.
The court decided that the appealed rulings had an impact on how the main case was conducted. According to the court, the problems originate from a litigation involving very valuable property. Simbamanyo's lawyers submitted an objection to the application's competence, contending in vain that the matter had not been properly filed before the Appeal Court.
According to court records, Equity Bank, Luwaluwa Investments, and the law company requested that proceedings in the lower court be halted and that its judgments be enforced. The High Court issued an order permitting Equity Bank's managing director, Luwaluwa Investments, as well as Katende, Ssempebwa, and Company Advocates, to inspect and copy certain accounts.
The purpose is to provide evidence of under oath email chats as well as a full performance bank guarantee.The bank and others sought an appeal after being dissatisfied with the directives, which the trial court refused. Following that, the parties filed a complaint with the chief inspector of courts and the court of appeals.
According to court filings, Simbamanyo Estates and Mr. Kamya have been embroiled in a protracted legal battle over the advertising and sale of two of its properties, the Simbamanyo Building on Lumumba Avenue and the Afrique Suites on Mutungo Hill.
Meera Investments Limited and Luwaluwa Investments Limited purchased the multibillion-dollar properties in October 2020.