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NBK allowed to auction church owned hotel over Sh727m debt

National Bank of Kenya has been given the greenlight to auction the Sh1.2 billion Milele Beach Hotel in Mombasa to recover a Sh727 million loan balance from the Presbyterian Church that owns the luxury resort.

High Court Judge Anne Omollo has dismissed an application by a firm owned by the men’s fellowship within the church — Presbeta Investment Limited — intended to stop the auction.

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