Shareholders of Fidelity Commercial Bank Ltd (FCBL), which was acquired by Mauritius-based banking group SBM Holdings in 2017 have jumped the first hurdle after a judge declined to stop a case they have filed before the High Court seeking a Sh2.5 billion compensation.
Justice Alfred Mabeya rejected the application by SBM Bank Holdings to suspend the case filed by Sultan Khimji, Fidelity's largest shareholder, to stop the petition in favour of arbitration.
