Exim Bank Uganda Limited has hired ruthless Court Bailiffs of Mutesasira Associates and Court Bailiffs to recover their billions of shillings from Kampala city businesswoman Teopista Nabbale the proprietor of Teopista & Jesus Holding Limited through auctioning of her properties after she failed to pay their money as agreed.
The development comes after the Assistant Registrar of the Commercial Division of the High Court allowed the bank’s application to recover its money through auctioning and Nabbale has been given 30 days from Monday 3rd 2025 to pay all the money demanded and fees of the bailiffs or lose her properties she used as security when applying for the mortgage
“ All the occupants of the advertised properties are hereby notified to vacate within 14 days from the date of this publication, failure of which they shall be forcefully evicted at their own costs,” the advert in one of the dailies reads
Mutesasira a seasoned no-nonsense court bailiff confirmed to have received instructions to auction Nabbale’s properties including land in Kabalagala, Kisugu on Block 244 plot 541 Kyadondo Kampala city measuring 0.15 hectares and all the buildings on it.
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The development comes after Nabbale’s application to stay the execution of the orders in a judgement where she lost against the bank on grounds that she failed to confirm to court that her properties were under threat of being auctioned and there was no proof that she has filed an appeal in the Court of Appeal challenging the High Court decision.
According to sources, Nabbale secured a Shs5bn loan from the said financial institution using her land titles as security in 2023, she entered a consent judgment with the bank where she promised to pay the money but protested the amount the bank was claiming that it was demanding from her.
According to the documents, the bank was claiming that it demanded Shs9bn while Nabbale was insisting that the bank was only demanding Shs5bn and agreed in the consent judgement to pay Shs5bn.
Court directed her to file an application challenging the additional Shs4bn which she failed to do and this publication has established that there are criminal charges related to fraud that were filed against Nabbale at Buganda road court and very soon criminal summons are going to be issued against her.
