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Shareholder fights rock Credit Bank over Nyachae ties
Three minority shareholders filed the court petition citing breach of regulatory rules and preferential treatment of entities associated with the Nyache family.
A shareholder dispute at Credit Bank been referred to arbitration amid allegations of irregular insider lending, favouritism of top owners and weak recoveries of unpaid loans.
The High Court has ordered the warring parties to resolve the row, which has sucked in the family of former Cabinet minister Simeon Nyachae, through international arbitration in line with a shareholder agreement.
