A prominent law firm in Kampala has announced plans to sell off prime buildings owned by Otada Holdings Limited over an unpaid loan.
In a notice issued through AF Mpanga Advocates, the firm revealed that it had received instructions from its client—one of the company’s creditors—to recover outstanding debts through the sale of several properties.
The affected properties include a residential house at Plot 4, Hanlon Close in Kampala; another at Plot 2296, Wakiso District; a house at Plot 5159, Kisugu, Kampala; a residence on Plot 17, Kabalega Road, and another on Plot 27, Balla Road, both in Lira City. The list also includes a prime commercial property located on Plot 89, Oyam Road in Lira City.
According to the notice, the properties will be sold by public auction unless Otada Holdings settles the outstanding loan within 30 days from the date of publication.
Neither the law firm nor Otada Holdings Limited has publicly disclosed the total loan amount in question.
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