CBK loses first round to Pattni firm in Sh8.84bn Laico row

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Businessman Kamlesh Pattni. FILE PHOTO | EVANS HABIL | NMG

A company associated with Goldenberg architect Kamlesh Pattni has been allowed to pursue its claim of a refund of Sh8.84 billion paid to the Central Bank of Kenya (CBK) as a deposit for the botched purchase of Laico Regency Hotel in 1997.

The Supreme Court allowed Westmont Holdings – the local agent of Malaysia-based Lynwood Development Limited -- to pursue the claim at the Court of Appeal after the firm was stopped in 2017 from doing so on the failure to deposit Sh20 million in court before proceeding with the suit.

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