Ugandan high Court Judge , Steven Mubiru , has ruled against businessman Patrick Bitature in a suit filled by Vantage Mezzanine Fund II Partnership, a South African-based venture capital fund, over a debt dispute.
High Court Judge Steven Mubiru ruled that that the ug.Shs. 194 million shillings awarded to the company for legal services was manifestly low. Vantage had appealed the decision, arguing that the amount was “manifestly low, unfair, and inconsistent” with the Advocates Remuneration and Taxation of Costs Regulations.
Bitature, who was sued alongside his wife Carol Bitature and several companies, had filed a counter-appeal arguing that the ug.Shs. 194 million shillings was excessive. However, Judge Mubiru rejected this claim, finding that the deputy registrar had failed to evaluate all the evidence on record, leading to an “injustice” against Vantage.
The court ordered the deputy registrar to reconsider the bill of costs and increase the amount to reflect the value of the suit and its complex nature. This latest ruling is another setback for Bitature, who has been embroiled in a long-standing debt dispute with Vantage.
The dispute began when Bitature failed to repay a $10 million loan from Vantage, claiming that the fund was not legally registered in Uganda. However, the court ruled that there was a valid loan agreement between Bitature and Vantage, and ordered them to proceed with arbitration.
Vantage has since claimed over $26.486 million from Bitature and his companies, and has won several court battles against him. The latest ruling is a significant blow to Bitature’s efforts to reduce the amount owed to Vantage.
