MP Balikuddembe sued over Sh 156m bank loan

The Commercial Court has summoned Busiro South MP Joseph Balikudembe Mutebi to defend himself on allegations that he failed to pay a Sh156million loan he acquired from Housing Finance Bank.
According to the court documents signed by the Registrar Thaddeus Opiseni, Balikudembe has been given only 10 days within which to defend him self on the allegations.
The said money arose from a personal loan he got from Housing Finance Bank but failed to pay since May 2011.
The Bank says Balikudembe applied for a swift loan of Shs 10million payable in 6 months installments but he only made a few deposits leaving abalance of Sh156million.

Story by Ruth Anderah

Written by Reporter