4 Netherlands based Rabobank and two of its former senior bankers go before a UK court are to answer claims from Ugandan billionaire Sudhir Ruparelia, who is seeking at least €200 million ( Ugs 800bn ) in damages over what he says was the unlawful sale of his Crane Bank in Uganda.
Ruparelia and other former owners of the East African bank argue it was sold far below market value in a corrupt process, and that Rabo and the Dutch development bank FMO were among those who illegally benefited from its proceeds . His lawyer expects the claim to increase
This will be yet another legal battle Sudhir Ruparelia is determined to take on against all the financial institutions and or companies that he strongly claims illegally, fraudulently and in a corrupt way seized and sold his Crane Bank -he worked so hard ,for so long to grow -into one of the leading banks in East and Central Africa.