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@matookerepublic Sun, 17 Sep 2023 09:18:31

Court of Appeal rules Aya must pay Shs614b in loans and arrears borrowed from South Africa firm to set up Pearl of Africa Hotel

The Court of Appeal has dismissed an application in which Aya Investment Uganda Ltd had sought to block the payment of $165,043,605 (about Shs614b) in an arbitral award to Industrial Development Corporation (IDC) of South Africa Limited. The background of the case indicates that between 2007 and 2017, Aya and IDC entered into multiple financial credit agreements to finance the construction […]

The post Court of Appeal rules Aya must pay Shs614b in loans and arrears borrowed from South Africa firm to set up Pearl of Africa Hotel appeared first on Matooke Republic.

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