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So much for being broke.
On Wednesday, Mr Patrick Katto, the former managing director of International Credit Bank, told court: "My wife's company gives me airtime of Shs 40,000, a car to drive to any destination of my choice whenever it is available, and it takes the children to school. She gives me pocket money of between Shs
50,000 to Shs 100,000 each week."
Little wonder that a man living on handouts from his wife should file for bankruptcy.
But it is not an attractive choice. Bankruptcy is a form of punishment and it is usually the loan sharks who file bankruptcy applications against someone.
Creditors usually say they want to protect other creditors. But in fact they want to punish the borrower.
Under the Bankruptcy Act (Section 71), if one is declared bankrupt, he or she will never get a loan. Or be director in any firm. Or hold public office.
In that case, court would give you a guardian to manage your life and the few assets that you have.
"You would go to the guardian and say, 'I need some pocket money to buy toothpaste,'" a Bank of Uganda lawyer yesterday said.
Obviously, he declined to be named because this very week the Uganda Law Society issued a directive that bars (pun intended) members of the bar from speaking to journalists.
Currently, Mr Ssebaana Kizito, the mayor of Kampala; Col. Kahinda Otafiire, the minister of Water, Lands and Environment; and Mr George Bageya, the former LC-V chairman of Iganga district face bankruptcy petitions.
And they all are fighting the applications against them. Internal Security Organisation's Teddy Sseezi Cheeye (also the publisher of the Uganda Confidential newsletter) has fought several bankruptcy applications.
He lost to Mr Gordon Wavamunno, the chairman of Spear Group of Companies. And he also lost to Mr Richard Kaijuka, a former alternate director at the World Bank.
That Katto can at all aspire to be declared bankrupt is one big surprise.
His father and former ICB chairman Thomas Katto has a similar petition seeking to be declared bankrupt.
Is it, therefore, surprising that the central bank does not want Katto - neither the son nor the father- declared bankrupt? It really shouldn't be, at least according to the central bank lawyer.
In Uganda it is easy to hide assets, the lawyer said. If you have a car, you can drive it, bash it, and when you are tired of it - sell it.
"But [if] you have it registered in your child's name, you get away with paying less [to creditors]. Or nothing," the lawyer said.
"The reason we are vigorously pursuing this is that we want to deter people from trying to escape justice," he added.
The lawyer also said that bankruptcy could allow Katto pay off only part of the debts - if at all.
"The judge would allow him to keep some money for his body and soul," the lawyer said.
A small price to pay indeed for giving away his freedom to the wife. But Katto's plans could also fall apart.
If the judge discovers that Katto did not declare all his assets while applying for bankruptcy, the application would be dismissed, and Katto ordered to pay.
Or, even, sent behind bars. The way it is, his fate is in the hands of the judge. | 
