On Thursday (August 3, 2017) armed policemen and court bailiffs went to the UT Bank headquarters to seal off the building.
Their action followed UT Bank’s inability fulfil a court judgement ordering it to pay a private company; Oxford Street Hotel $110,000.
The bank is said to have withdrawn the amount from the client’s account without rendering the needed service it had charged for.
After filing a suit against the bank, the court ruled that UT Bank pays Oxford Street Hotel $110,000.
At about 9 am on Thursday four armed policemen and two bailiffs arrived at the bank’s headquarters to execute the commercial court’s order which was awarded on June 12, 2017.
Around 10:18 am a notice of stay of execution was shown to the police and bailiffs who later left.