Connect with us

News

Vantage Capital Welcomes High Court’s Decision to Dismiss Criminal Charges

Avatar photo

Published

on

IMG 20240614 WA2030

Kampala, Uganda – Vantage Capital, a leading investment firm, has welcomed the decision of the Criminal Division of the High Court of Uganda to overturn criminal charges and arrest warrants against its personnel. The charges were brought by a private prosecution initiated by Wycliffe Atuhairwe, a lawyer representing Simba Group of Companies and Patrick Bitature.

In a public statement, Vantage Capital described the charges as “spurious and baseless” and an attempt to avoid repaying a loan owed to the firm. The High Court’s decision sets aside all charges and warrants, describing the authorization of criminal proceedings as a “travesty of justice.”

The court also sanctioned Atuhairwe to personally meet the costs of the proceedings, citing abuse of court process and a “mockery of justice.” The decision reaffirms previous findings that Vantage did not require registration or a money-lending license in Uganda and that Simba entered the agreements voluntarily.

Vantage Capital praised the Learned Judge’s decision, emphasizing the importance of protecting Uganda’s investment climate and upholding the sanctity of contracts. The firm welcomed the finality of the decision, which brings an end to the criminal allegations.

This development marks a significant milestone in the long-standing dispute between Vantage Capital and Simba Group, underscoring the rule of law and the protection of investment rights in Uganda.

Continue Reading

Copyright © 2023 The New Light Paper, Uganda. A Subsidiary of KOOM Media Group Ltd.

Discover more from The New Light Paper

Subscribe now to keep reading and get access to the full archive.

Continue reading