Log in
Free: The Observer Mobile App - Exclusive Content and Services

Drake Lubega’s wife files fresh suit over company

Just over one month after filing for divorce, Benita Lubega, the estranged wife of city tycoon, Francis Drake Lubega, now wants their joint company wound up and a portion of it, which she claims is hers, awarded to her.

In a fresh petition filed in the High Court (Civil Division) yesterday, Benita is suing Jesco Industries Ltd, a company managing most of Lubega’s properties, with a view of securing her minority shares. The case has been allocated to Justice Benjamin Kabiito. Jesco Industries Ltd, incorporated on October 7, 2005, oversees several assets and properties in the city, including Energy Centre on plot 8 Market Street and plots 22, 23 and 39 Nakivubo Road.

While Lubega owns majority shares in this company, his wife claims 39 percent shares. The other shareholders are the couple’s four children – Bonita, Charles and Mark Lubega (all minors) as well as Isaac Matovu Lubega. In her affidavit accompanying the plaint, Benita alleges that on May 2, 2012, three days after her husband had thrown her out of their matrimonial home, he held what he claimed to be a company meeting and passed a special resolution approving the sale and transfer of her shares.

Benita claims that in the said meeting, it was further resolved that she ceases to be a shareholder and director in the company. She also states that on May 3, 2012, a transfer of share stock was executed, allegedly signed by herself and her husband, and witnessed by one Rashid Babu, an advocate.

“The company further filed notification of change of directors and secretary, and appointed Matovu Isaac as the new director and secretary. [Matovu] is only a son of school-going age and has never been [involved in the] management of the company,” Benita contends.

She further alleges that the company, in a general meeting, purportedly passed two resolutions removing her as a signatory to the company accounts with Crane Bank and Diamond Trust, and appointing her husband as the sole signatory. Saying that her relationship with her husband and co-director is undergoing “serious tension” since she filed for divorce, Benita claims that all the said resolutions are forgeries as she has never stepped into the company offices since May 1, 2012, or attended any of the purported meetings.

“Since [Lubega] has already acted fraudulently and single handedly made the above resolutions, there is a strong likelihood of using those powers and position to transfer/dispose of the assets of the company to defeat my interests as well as those of other stakeholders who are minors,” Benita adds.

The couple has been married for 11 years, having exchanged vows on December 23, 2000. Benita filed a petition in late May, seeking divorce on grounds that her husband was violent and threatened to kill her. She asked court to grant her nine (or 45%) of the 25 properties she says they co-own in and outside Kampala city.

slubwwama@obsever.ug

Comments are now closed for this entry

Bunga Bet