CONCERNED CITIZEN TO SUE MMAKS FOR INVOLVING IN ILLEGAL SALE OF CBL

By www.mknewslink.com
In Kampala
Bowmans advocates and MMAKS advocates that were controversially paid exorbitant legal fees by Bank of Uganda face a fresh legal suit by a concerned citizen should they fail to honor his demands.
The front legal faces in the illegal sale of crane bank limited include; sacked Buganda Attorney general, David Mpanga is a leading partner at Bowmans advocates while Timothy Masembe Kanyerezi is also a senior partner at MMAKS advocates(Masembe, Makubuya,Adriko, Karugaba & Ssekatawa).
It should be recalled that Bank of Uganda paid about Uganda shillings 25 billion as legal fees for external lawyers.
Whereas BoU spent such huge sums of money to sale crane bank, the report by parliaments committee on commissions, statutory authorities and state enterprises (COSASE) revealed that the sale of crane bank violated the Financial Institutions Act of 2004.
Also, it was noted that Bank of Uganda didnt have minutes of negotiation meetings with the said external lawyers. External lawyers also drew their terms of reference.
In a demand notice cum notice of Intention to sue dated 28th February 2019 to both Bowmans and MMAKS advocates, a concerned citizen, Steven Masanso makes a series of demands to both firms failure of which to honor will attract lodging of both civil and criminal proceedings against the two firms.
As you are, its on record that as part of resolution of various banks facts of which are well with in your knowledge you continually received various monies in collusion with individual Bank of Uganda officials which sums were charged on received banks.
You also routinely billed way beyond permissible scale and in instances for no work done at all. A case In point is with respect on the monies taken out as legal fees for purported drawing of the Crane bank sales agreement even when it clearly shows having been drawn by the Legal Department of Bank of Uganda.
Mr Masanso further contends that, You accordingly offered no consideration and per took in an illegal and criminal enterprise
He also accuses MMAKS of performing a regulatory coup variously significantly advising the banking regulator while at same time sitting on different boards of regulated commercial banks and/or acting for them.
According to Masanso for instance, in the case of cbl, the lawyers acted without authority of the board and the legal department.
All the actions of the advocates were construed in bad faith, self-interest and usurped the constitutional powers of the regulator.
The complainant demands that the accused firms publish an apology in the nations media, refund of all illegally levied fees failure of which will attract both criminal and civil proceedings.
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