Last Wednesday, October 1, the Dakar Commercial Court ruled in a decision rendered in commercial, in favor of Société Générale Sénégal S.A. (SGSN) represented by The law firm Me Guèdel Ndiaye & Associés, against Urban Society Corporate (UDE).

The court ordered the company UDE to pay to the Bank the sum of 406 662 091 FCFA in principal, plus legal interest from the date of the judgment. UDE is a company that is active in several areas including the implementation of infrastructure works, sanitation or again the exploitation of resources, in particular flints. The bank wanted the repayment of a debt with real guarantees on an asset real estate of the defendant company.

The court recognized the admissibility of the action brought by SGSN. En guaranteed the recovery of this debt, the court validated the mortgage Conservatory taken on the right to lease a building located in Rufisque (title land no. 7167/R), owned by UDE, and ordered its transformation into final mortgage in favor of the SGSN. In its decision, the court authorized the provisional execution of the judgment in the amount of 500,000 FCFA, notwithstanding any recourse, and paid the costs to UDE