UPDATE ON BUSHENYI TYCOON’S CLOSED HOTEL: WE ARE ALREADY SELLING WESTERN MERIDIAN HOTEL—COURT BROKERS

BY WILBER MUHWEZI-KASIBANTE

IN BUSHENYI—

The managing director of Kamugasha agencies, a court bailiff company that closed and took charge of Western Meridian Hotel, Mr. Katumusiime Jotham has at 1:00pm today June 08, 2017 told www.mknewslink.com editor that his company is already selling the hotel.

view of western meridian hotel

According to Katumusiime ,the bank, Uganda development bank first gave the owner, Musiiba, six months to pay, later three months but never paid. “We cannot give him more time because we gave him enough time and we can’t add. For me I have instructions of my client Uganda development Bank to sale the hotel immediately” Katumusiime said.

He however said that if he gets the bank’s money soonest; today or tomorrow he can be allowed but as far as he is concerned, he is selling the hotel.

He added that Uganda development Bank which is government owned forgave Musiiba 800,000,000= million and the balance remained 1billion but still failed to pay.

Katumusiime added that, Musiiba took the bank to court and was defeated. He noted that after that a consent judgment was entered into but he still failed to pay.

Western Meridian Hotel which was commissioned by president Museveni is worth about 5 billion, five storied is one the biggest hotels in greater western Uganda; in 29 districts.

Katumusiime dispelled romors going round that the hotel in question has two different titles; a compound having its own and a hotel another.

“We shall wait for that person with a parking, entrance  and compound title. As far as we are concerned we have a title for the whole premises” Katumusiime revealed.

Mr. Musiiba has since 2010 when he opened his mega hotel faced problems of cash; many banks have been demanding a lot of money from him but he has been paying them slowly.

CORRECTION: The bank that demands money from Musiiba is Uganda Development Bank but not Standard chartered Bank as we reported in our first story and the amount demanded is 1.3billion not 1.5 billion.

Source: www.mknewslink.com

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