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Court backs KCB’s auction of client’s 67 acres in Nyandarua
The court also dismissed the borrower’s valuation dispute, rejecting his claim that the Sh4.6 million sale price grossly undervalued the property, which he insisted was worth Sh30 million.
The High Court has dismissed a 12-year lawsuit filed by a businessman challenging Kenya Commercial Bank's (KCB) auction of his 67-acre Nyandarua farm, ruling that the lender lawfully exercised its statutory power of sale following prolonged loan default.
The court found that the trader, Jack Githae, failed to substantiate claims of fraud, illegality, undervaluation, or breach of injunction, affirming KCB's adherence to legal procedures in selling the property.
