Kenya Commercial Bank (KCB) has suffered a setback after the High Court suspended its notice to appoint a receiver manager to run Pinewood Beach Resort and Spa in Diani, Kwale county over a Sh5 billion loan for constructing a luxurious property in Mombasa associated with the Kanji family.
Justice Kizito Magare restrained the receiver manager (Kamal Anantroy Bhatt) from taking over or in any way disposing, selling, or affecting Pinewood Beach Resort and Spa located in Kwale/Galu/Kinondo registered in the names of hotelier Alnoor Kanji and Gulshan Abdulmalik Kanji.
