Court of Appeal has dismissed appeals filed by Standard Chartered Bank and Stanbic Bank in a long-running loan recovery dispute involving Hassan Basajja and others.
In its ruling delivered on September 15, 2026, in Civil Appeal Nos. 147 and 140 of 2015, the court held that the banks had lost locus standi after assigning the disputed debts and securities to the Bank of Uganda.
The court also upheld an earlier consent judgment that capped the liability at USD 11.575 million, finding that the matter had already been conclusively settled.
The judges invoked the principle of res judicata, which prevents parties from reopening a case that has already been finally determined.
The dispute arises from the prominent litigation involving Basajjabalaba Hides & Skins Ltd., which has featured long-running disagreements over loan recovery and related securities.
The decision reinforces the legal significance of consent judgments and debt assignments in Uganda’s banking and financial disputes.
It could also have broader implications for banks seeking to recover debts after transferring or assigning loans and securities to another institution.
The ruling provides further guidance on the legal consequences of debt assignments and the limits of reopening matters already resolved through court-approved settlements.
See Legal Documents Here
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