Cytonn fails to stop auction of Ruaka property in Sh1bn loan dispute

The Alma project in Ruaka, Kiambu in 2020. 

Photo credit: File | Nation Media Group

Cytonn Integrated Project LLP has failed in its bid to stop SBM Bank (K) Ltd from auctioning part of its property in Ruaka, Kiambu County, to recover a debt exceeding Sh1 billion.

The Court of Appeal dismissed the Cytonn’s application seeking to bar the lender from selling or transferring the property pending the determination of an intended appeal.

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