KCB Bank has defended its decision to appoint a receiver manager for Pinewood Beach Resort and Spa concerning a Sh5 billion loan for constructing a luxurious property in Mombasa associated with the Kanji family.
KCB says it validly and lawfully exercised its right to appoint Kamal Anantroy Bhatt as the receiver under Pinewood debenture and has not breached Alnoor Kanji’s rights.
