Jomayi Property Consultants Ltd, once Uganda’s most prominent real estate leader has been sent into liquidation after being declared insolvent by the High court.
The court order to wind up comes after NC bank failed to recover Shs 868 million from Jomayi. It all started in 2018, when John Baptist Ssemwogerere secured a loan from NC Bank Uganda Limited for Value Trading Stores Limited after mortgaging his land; Busiro Block 410 Plot 20 located at Ssisa, Wakiso district.
The borrower defaulted on payment obligations, and the bank issued a notice of sale of the mortgaged property by public auction or private treaty. Jomayi Property Consultants Ltd, owned by Joseph Yiga Magandazi agreed with NC Bank to purchase a…
