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Equity Bank now digs in for TransCentury receivership

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Equity Group Holdings PLC Chief Executive Officer Dr James Mwangi briefs investors during an Investor briefing and Release of the 2023 Quarter One results at Equity Center on May 16, 2023. PHOTO | FRANCIS NDERITU | NMG

By  Sam Kiplagat

Court Reporter

Nation Media Group

Equity Bank Kenya on Wednesday urged the High Court to lift an order blocking the receivership of TransCentury and East African Cables Ltd arguing that the orders were obtained without disclosing important facts to the court.

The lender told Justice Alfred Mabeya that TransCentury does not deserve intervention because it failed to disclose to the court that the company could not repay loans as the firm raised only Sh828 million from the rights issue.

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