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Kenya Orient Insurance assets attached over Sh258m bank debt
The debt arises from a performance bond of $500,000 issued by the insurer to coffee exporter Meghji Kanji & Company Ltd in 1996, but which the insurer did not honour.
An auctioneer has attached furniture and office equipment belonging to Kenya Orient Insurance over a debt of more than Sh257 million.
Garam Auctioneers proclaimed the assets on Thursday last week for seizure to satisfy a debt of $1,997,907 (about Sh257.7 million at the current exchange rates) owed to Ecobank.
