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Imperial Bank depositors’ pay blocked
Imperial Bank depositors protest after the bank was put under receivership. The depositors will now have to wait longer for their payment after a Mombasa tycoon, Ashok Doshi, obtained orders blocking any payments pending the determination of his petition. FILE PHOTO | NMG
Depositors of collapsed Imperial Bank Ltd (IBL) will have to wait longer for their payment after a Mombasa tycoon obtained orders blocking any payments pending the determination of his petition.
The High Court suspended the payments last week but the Kenya Deposit Insurance Corporation challenged the petition accusing Mr Ashok Doshi of using the judicial process to frustrate the liquidation process for the last seven years.
