News

Tables Turn for tycoon Bitature as High Court dismisses charges against Vintage Capital in huge business dispute

Patrick Bitature is a Ugandan businessman, entrepreneur and author (PHOTO/Courtesy)

Patrick Bitature is a Ugandan businessman, entrepreneur and author (PHOTO/Courtesy)

Kampala, Uganda – In a significant legal victory, the High Court of Uganda has dismissed charges against Vintage Capital, a move that marks a turning point in the long-standing dispute between tycoon Patrick Bitature and the financial services firm.

The court’s decision, made on April 19, 2024, sets aside all charges and warrants brought against Vintage Capital’s current and former personnel, describing the private prosecution as a “travesty of justice.”

“The ruling is a significant victory for Vintage Capital and a testament to the company’s commitment to upholding the rule of law,” said Derek Alexander, Associate Partner: Legal.

The court’s decision reaffirms the legitimacy of the facility agreement and the responsibility of Simba to repay the loan. “The court’s decision reaffirms the importance of honoring contractual obligations and demonstrates the company’s dedication to protecting its investments,” Alexander added.

The judge’s ruling criticized the magistrate and Mr. Atuhairwe, the lawyer representing Simba and Bitature, for their role in the “spurious and baseless” prosecution. The court also sanctioned Atuhairwe to personally meet the costs of the proceedings.

“The dismissal of charges against Vintage Capital is a turning point in this long-standing dispute, and we are pleased with the outcome,” Alexander said.

Vintage Capital welcomed the decision, stating that it brings an end to the “regrettable episode of spurious criminal allegations.” The company praised the court’s commitment to upholding the rule of law and protecting Uganda’s investment climate.

“The court’s decision sends a strong message that spurious prosecutions will not be tolerated, and we appreciate the court’s commitment to upholding justice,” Alexander concluded.

This ruling marks a significant milestone in the dispute between Vintage Capital and Simba Group, with the court reaffirming the sanctity of contracts and the responsibility of parties to honor their obligations.

Comments

Most Popular

To Top