City businessman Elvis Sekyanzi survived spending more days behind bars after being released on Friday over failure to refund a business loan he acquired from a creditor from Mash Investments Limited.
Elvis Sekyanzi Wavamunno was last week sent to Luzira prison over failure to clear an outstanding debt.
Elvis Ssekyanzi, the son to Gordon Wavamunno, was dragged to the courts of law after accumulating the above mentioned debt from Mash Investment Limited in the year 2016.
He spent a week behind coolers as his team and lawyers planned how to help him be set free with a request for bail.
The initial bail application hearing was turned down in court as court asked him to at least pay a quarter of the debt.
He was then further remanded to Luzira until Friday when Court Bailiff Sarah Komugisha accepted Shs12m of the Sh20m for effecting a court order.
“It’s very difficult to arrest Sekyanzi. I got the warrant on June 1, and effected the arrest towards the end of the month. That is why he should pay my costs before he is released,” Komugisha insisted.
The Commercial Court released Sekyanzi from Luzira Prison after paying court bailiff’s costs. He was warned that if he fails to pay the balance within the specified period, he will be rearrested.
Mash Investment Limited and Sekyanzi had agreed to establish, operate and run an entity known as Liquid Silk, Bugolobi Limited, but Sekyanzi breached the contract and failed to return $136,000 (about shs487m) given to him by Mash.