An administrator appointed by Equity Bank on Thursday took control of East African Cables but its parent firm TransCentury managed to block seizure by the bank, which was enforcing its claim of Sh4.74 billion that the two firms have defaulted on.
Equity failed in its bid to take over control of a property associated with investment firm TransCentury in Nairobi’s Lavington neighbourhood, after the lender’s appointed receivers were locked out of the premises by the entrance guard.
