The Court of Appeal has temporarily stopped proceedings in the matter in which Simbamanyo Estates Limited is contesting Equity Bank's sale of mortgaged property, pending the outcome of the substantive plea for stay of proceedings.
The court issued an express order prohibiting the Commercial Division of the High Court from proceeding in the long-running legal battle pitting Simbamanyo Estates and its managing director, Peter Kamya, against Equity Bank Limited, Luwaluwa Investments Limited, and Katende, Ssempebwa, and Company Advocates.
The Court of Appeal's Honorable Justice Cheborion Barishaki held that the interim relief requested by the petitioners is required to maintain the status quo until the substantive appeal for stay of proceedings is considered and resolved.
The court determined that the orders under appeal had an influence on how the main litigation would be handled.
The judge said that the issues stem from a lawsuit involving very expensive property. Lawyers representing Simbamanyo lodged an objection to the application's competence, arguing in vain that the issue had not been properly filed before the Appeal Court.
According to court filings, Equity Bank, Luwaluwa Investments, and the legal firm sought orders to halt proceedings in the lower court as well as the enforcement of its rulings. The High Court granted an order allowing the viewing and copying of certain accounts held by Equity Bank's managing director, Luwaluwa Investments, as well as Katende, Ssempebwa, and Company Advocates.
The goal is to show under oath email conversations and a completed performance bank guarantee.After being displeased with the orders, the bank and others filed an appeal, which the trial judge denied. The parties then filed a complaint with the chief inspector of courts and the court of appeals.
According to court documents, Simbamanyo Estates and Mr. Kamya are involved in a lengthy legal struggle over the advertising and sale of two of its properties, the Simbamanyo Building on Lumumba Avenue and the Afrique Suites on Mutungo Hill.
In October 2020, the multibillion-dollar assets were sold to Meera Investments Limited and Luwaluwa Investments Limited.
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