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Tag Archives: liquidation

Judicial officers asked to help distressed companies survive

Kampala, Uganda | THE INDEPENDENT | Judicial officers have been asked to support the survival of companies in distress instead of issuing decisions that lead to their extinction. This comes as companies continue to struggle to pay off bank loans and other obligations like suppliers and salary arrears, and other lagging …

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BoU starts liquidation and winding up of Crane Bank Ltd

Kampala, Uganda | THE INDEPENDENT | Bank of Uganda (BoU) has the started process for complete closure of Crane Bank Limited, a move that will see the defunct lender’s chapter closed for good. The Central Bank as a liquidator issued a statement on Friday. A liquidator is an officer or entity …

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South African gov’t says no to liquidation of national carrier

Cape Town, South Africa | XINHUA | The South African government reaffirmed on Friday that it will not liquidate embattled South African Airways (SAA). Instead, the government will reprioritize funds to finalize the restructuring of the SAA and the implementation of the airline’s business rescue plan, the Department of Public …

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Greenland bank shareholders demand accountability of assets

Kampala, Uganda | THE INDEPENDENT | A section of former shareholders of Greenland Bank have demanded that the Central Bank accounts for the entire period the institution has been under liquidation. The bank was in 1999 put under liquidation by the Central Bank which could later on 5th December 1998 take …

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