In a letter dated, November 16, 2019 the company wrote to the bank in response to a letter written to them by the bank about unknown and unclear sums of money claimed to be owed to the bank by the company.

This compelled Ham Enterprises to carry out an audit of all its settled and pending facilities with the bank.  “It was revealed that through extortionate, irregular, unlawful, deceptive transactions and in breach of contractual, fiduciary and statutory duties; the bank fraudulently through misrepresentation, irregularly debited and recovered monies from their accounts,” reads the letter in one part.

That through vigorous, deceptive, fraudulent, unscrupulous, under regulated, unfair, unjust schemes with use of their superior bargaining position contracted the company into unconscionable terms of contract, unjustly enriched themselves jointly and severely.

Through the letter, the company notified the bank that it had terminated all its contracts with the bank.

“That the actions of the bank in regard to their previous dealings had complicated, stifled and frustrated their contractual obligations and duties with Diamond Trust Uganda and Kenya all which amounted to breach of contract. The company thereby communicated termination of all existing contracts. Clearly stating that, as far as Ham Enterprises (U) Ltd is concerned; there was no indebtedness to the bank.”