{UAH} Thank you Crane Bank Depositors for your contribution to 'building the nation'.
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9:15 AM |
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New (less than 5 years)
Hardware Plaza
Crane Plaza
Speke Apartments
Bukoto Heights
'The Cube'
Tagore Apartments
Victoria University
Market Plaza
Hardware City
Kampala Boulevard
Kampala Boulevard extension
Eagle Plaza
About 20 Branches of Crane Bank
New Delhi international school
Victoria University Building on Jinja Road and few long that stretch
Do not forget the 3 weddings,2 were in prepared in London and one at common wealth resort.
Old (more than 5 years)
Kampala Parents School
Kampala International School
Speke Resort Munyonyo
Munyonyo Commonwealth Resort
Kabira Country Club
Delhi International School
Speke Hotel
About 26 Branches of Crane Bank
Land where red chillies was
a sizeable chunk of land by the Nile in Jinja.
the former CMI land..just near MoH
the former intelligence HQ at the Yousef Lule rnd abt
Thank you Crane Bank Depositors for your contribution to 'building the nation'. Now please stop whining or go and suck your miserable genitals. Couldn't you see that the thing was phony or you thought those assets were yours?
What irritates me about banks is that they truly own nothing. All they do is collect money from one set of people and lend it to another. I'm sure the depositors won't get all their money back and yet the owners will walk away with so much. I wonder how much that man came with when he came to this country and how much of his own money was invested.He started robbing through a certain lottery in the early 90s after being politely told to leave by Zambia. I know all All Ugandan Commercial Banks are however required by law to put down UGX 25bn in capital before they can be allowed to operate.
BOU may have no option but to lift the veil in order to recover customer funds. Hope that process is not frustrated. Depositors are insured up to Shs 5 million when a Bank fails.The first Creditor is Uganda Revenue Authority, who usually demand a large share. Then government ministries. The rest are paid with what remains.Funny thing is that many of the bank's so-called assets are in fact owned by other companies. So it is not clear how these will be brought into the game.
One wonders, how could Crane Bank, expand and rent premises from its most powerful director? Was this not conflict of interest? And will the new management reconsider paying rent for the 26+ branches to Meera Investments? One wonders!!!!
The assets technically belong to the depositors. Sudhir has nothing - they were collateralized and the Central Bank will hire a prominent law firm for the hammer - foreclosure.Trouble is--legally there is no way you can attach these property to Crane Bank, they belong to a separate legal entity. This is the legal- irregularity only the courage and person of Idd Amin could out-smart.Man the man was sharp. Essentially, a lot of these properties were acquired as collateral for 'doubtful' loans. When the 'doubtful' creditors failed to pay, the bank 'took possession' and then auctioned them off to 'Crane Management Services' and 'Meera Investments' at a give away price. The bank therefore hemorrhaged its cash into Sudhir's family's companies. Then they crashed the bank
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-- Hardware Plaza
Crane Plaza
Speke Apartments
Bukoto Heights
'The Cube'
Tagore Apartments
Victoria University
Market Plaza
Hardware City
Kampala Boulevard
Kampala Boulevard extension
Eagle Plaza
About 20 Branches of Crane Bank
New Delhi international school
Victoria University Building on Jinja Road and few long that stretch
Do not forget the 3 weddings,2 were in prepared in London and one at common wealth resort.
Old (more than 5 years)
Kampala Parents School
Kampala International School
Speke Resort Munyonyo
Munyonyo Commonwealth Resort
Kabira Country Club
Delhi International School
Speke Hotel
About 26 Branches of Crane Bank
Land where red chillies was
a sizeable chunk of land by the Nile in Jinja.
the former CMI land..just near MoH
the former intelligence HQ at the Yousef Lule rnd abt
Thank you Crane Bank Depositors for your contribution to 'building the nation'. Now please stop whining or go and suck your miserable genitals. Couldn't you see that the thing was phony or you thought those assets were yours?
What irritates me about banks is that they truly own nothing. All they do is collect money from one set of people and lend it to another. I'm sure the depositors won't get all their money back and yet the owners will walk away with so much. I wonder how much that man came with when he came to this country and how much of his own money was invested.He started robbing through a certain lottery in the early 90s after being politely told to leave by Zambia. I know all All Ugandan Commercial Banks are however required by law to put down UGX 25bn in capital before they can be allowed to operate.
BOU may have no option but to lift the veil in order to recover customer funds. Hope that process is not frustrated. Depositors are insured up to Shs 5 million when a Bank fails.The first Creditor is Uganda Revenue Authority, who usually demand a large share. Then government ministries. The rest are paid with what remains.Funny thing is that many of the bank's so-called assets are in fact owned by other companies. So it is not clear how these will be brought into the game.
One wonders, how could Crane Bank, expand and rent premises from its most powerful director? Was this not conflict of interest? And will the new management reconsider paying rent for the 26+ branches to Meera Investments? One wonders!!!!
The assets technically belong to the depositors. Sudhir has nothing - they were collateralized and the Central Bank will hire a prominent law firm for the hammer - foreclosure.Trouble is--legally there is no way you can attach these property to Crane Bank, they belong to a separate legal entity. This is the legal- irregularity only the courage and person of Idd Amin could out-smart.Man the man was sharp. Essentially, a lot of these properties were acquired as collateral for 'doubtful' loans. When the 'doubtful' creditors failed to pay, the bank 'took possession' and then auctioned them off to 'Crane Management Services' and 'Meera Investments' at a give away price. The bank therefore hemorrhaged its cash into Sudhir's family's companies. Then they crashed the bank
--
"War is nothing but a continuation of political intercourse, with a mixture of other means. Man will never be free until the last king is strangled with the entrails of the last priest."
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