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Court stops Coop Bank from auctioning home over Sh53mn loan - 7 months ago, 11 July 09:48

By: Richard Munguti

A city family has been saved from spending nights in the cold after the High Court stopped a leading lender from selling their house in order to recover millions owed.

Lady Justice Grace Nzioka granted the family of Mzee Eric Muchina Kimani a reprieve by suspending public auction of their Tassia residence by Co-operative Bank of Kenya #ticker:COOP pending determination of a case certified as urgent over a Sh53 million loan dispute.

“Unless this court intervenes and stops the sale scheduled for tomorrow (today) the family of Mzee Kimani in his 60’s will be thrown into the cold by auctioneers who are set to sell the house anytime between 8am and 6pm,” lawyer Titus Koceyo for Mr Kimani told Justice Nzioka Tuesday.

The judge directed that status quo be maintained then instructed Mr Koceyo to serve the bank and Mr John Ngunjiri Mwangi, trading as Ebenezer Autospares & Motorcycles, with the suit ...
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Category: business markets news

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