IMC hospital Hires out former Crane Bank premises

IMC  hospital Hires out former  Crane Bank premises

By Our Reporter

MABLE

The IMC hospital Uganda has commenced renovation works on  the former Crane bank premises in the heart of Mbale Municipality ready to utilize the property that had remained idle for several years now.

It has emerged that IMC Hospital that has gone on a speedy spree of setting up medical clinics in key towns across the country   had hired the property to commence business given its strategic location along Republic street in the Municipality central      business district of Mbale.

However it was not yet clear who exactly was responsible for hiring out this property but it seems Dfcu bank which took possession of all former Crane bank branches might be having a hand in all this. As its official Mbale branch is just across the road.

The mayor of the Municipality Zandy was optimistic that if such investors come to Mbale they welcome them with warm hands because they bring about the much desired development projects that lead to creation of jobs for his young educated town dwellers adding that he was happy that IMC hospital is trying to expand into this huge storied building that had been redundant for several years now.

Officials from IMC hospital in Mbale could not comment on the matter saying the best source would be their headquarters in Kampala however for Meera investments and Crane management s services the companies responsible for the properties could not commit themselves over the matter as well.

History of rivalry  between Crane bank, BoU and  DFCU

It should be remembered that when Crane bank was declared bankrupt, the Central quickly handed over it to  DFCU without actually carefully looking at the unknown future consequences.

 

 

As  a result DFCU bank also took over all assets that belonged to Crane Bank and little did they know that the buildings in which Crane bank used to operate in weren’t part of the bank the bank they gladly took over.

These officials according reliable sources within the banking sector,  Dfcu  was not aware  that Meera Investments and Crane Management Services actually owned these buildings.

DFCU Loosing track;

At one time, DFCU bank was misguided by Sebalu & Lule Advocates to transfer the titles of these properties to DFCU bank. “What we can confirm is that though these titles were leased to Crane Bank, they actually belonged to other companies.” reads the dossier from Dfcu bank.

The Bank’s news platform has been told that Meera leased 46 properties to Crane Bank on different terms and the leases were registered as encumbrances on Meera’s freehold and mailo interest.

The agreements for the lease.

These lease titles were subsequently processed and issued to Crane Bank. Crane Bank agreed to pay US$6,000 as ground rent for each of the properties effective on or before the January 1, of every year to the property owners who in this case are Meera Investments

The lease agreements and the court documents provided that Meera had the option to review the ground rent after the expiry of three years.

Meera had also agreed with Crane Bank under various lease agreements that in case of any breach, non-performance, or non-observance of what they had agreed on in the lease agreements, it will be lawful for Meera to seek legal redress from court.

“It was further agreed between the plaintiff [Lessor] and Crane Bank [Lessee] that anything done contrary to the terms of the lease agreements would forthwith cease the lessee’s rights or interest in the suit properties without prejudice to the lessor’s entitlement to rent unpaid and due,” Meera claims

Role of the Central Bnak

2017 Bank of Uganda announced that it had transferred all the assets and liabilities of the bank to dfcu Bank.But this was an illegality where top officials of BoU are said to have benefited financially. dfcu Bank, which was the new tenant then moved to take over the 46 properties, without the consent of the owners Meera Investments. “Through a subsequent search at the relevant land registries, the plaintiff (Meera Investments) discovered that; without it’s prior written consent, the first defendant (dfcu), in addition to taking possession of the suit properties, caused the leasehold interest to be transferred into its names and had been registered thereon as the proprietor of the leasehold interest,” Meera Investments is in their plaint of recovering rent and properties.

They argued that at the execution of the transfers in favor of dfcu and at the time of causing the transfer of the leasehold interest into the names of dfcu, the registration of Meera as the proprietor of the freehold and mailo was and is still intact.

Meera argued that dfcu Bank was aware of this fact or could have ascertained by way of a simple search. The company also at the time faulted the commissioner land registration for fraudulently going ahead to transfer the leases of the properties to Dfcu without the prior consent of the owners.

“The plaintiff avers that the second defendant (commissioner land registration), [was] well aware of the existing lease agreements and the conditions therein including the requirements for obtaining prior written consent from the plaintiff as the lesser, before any transfer of the leases and parting with possession thereof, nonetheless proceeded to illegally transfer and register the first defendant as lessee of the suit properties, without any consent or authorization from the plaintiff as required under the various lease agreements,” it argued. 

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