Nyarugenge-based Commercial High Court has set next Thursday for the hearing of a property wrangle case involving the family of the late Vedaste Rubangura.
The dispute is between Rubangura’s eldest son, Denis Rubangura and Immaculee Kayitesi, the former’s step mother.
Denis Rubangura sued Kayitesi and two commercial banks, Cogebanque and former Fina Bank, now GT Bank, accusing the banks of violating his father’s inheritance will by issuing loans to his step mother.
“Our father clearly stated how his property should be handled. He never said we use his property to acquire loans. All I want is to ensure that the property is well managed until the last born is mature enough to take her own share,” he said.
Vedaste Rubangura passed on in 2007 and Kayitesi is the recognised widow.
The Rubangura estate, which includes a renowned commercial building in the city centre and a steel factory valued at billions of francs, are at the centre of the legal battle.
Before Rubangura died, he wrote a will indicating that all his finances and properties should be used in servicing his debts and paying his children’s school fees until they have all graduated.
According to the will seen by The New Times, the children can only share his property after his last born has reached adult age.
His last born, Kelly Uwase is now 15 years old, which implies that all the ten children of the deceased tycoon will have to wait for her to make 21 years for them to share the property.
However, Denis Rubangura accuses his step mum of staking UPROTUR, a company belonging to the deceased city tycoon, to acquire bank loans.
However, sources close to Kayitesi claim that Denis is using expired documents to lodge a court case.
“Kayitesi never acquired a loan. She only got an irrevocable Letter Of Credit from the banks to run UPROTUR. This is not new, this is exactly how Rubangura was running UPROTUR, unless Denis want the company to run bankrupt,” said the source.
An irrevocable Letter Of Credit is a correspondence issued by a bank guaranteeing payment for goods and services purchased by the one requesting the letter.
However, Denis Rubangura says no dealings were supposed to be made without the consent and approval of all the ten children.
The case was expected to start on Thursday but lawyers representing the parties claimed they had not shared the submissions amongst themselves and asked for more time.
The court set February 27, for the case to resume and ordered the contending parties to have shared their submissions by February 24.