Commercial court stops KCB Sh200m Karen land auction
The KENYA Commercial Bank has been barred from auctioning a parcel of land worth more than Sh200 million in Karen, Nairobi. Justice Jacqueline Kamau of the Commercial Division extended orders restraining Savings and Loan, a subsidiary of KCB, from selling the land to recover a loan it advanced to Sehit Investments Ltd.
The judge stopped the sale until the hearing and determination of an application filed by lawyer Cecil Miller on behalf of Sehit, seeking to disregard a ruling made by Justice Leonard Njagi before he was declared unfit by the Judges and Magistrates Vetting Board last year. Savings and Loan had been granted orders to auction the land owned by Sehit's director Rose Mulwa.
Posted on THE STAR on March 13, 2013