A court has denied the government and UBA Bank Kenya permission to take over and auction a property owned by Uchumi Supermarkets Ltd in Lang'ata, Nairobi to recover a combined debt of Sh1.3 billion after plans of compulsory acquisition by the military collapsed.
This comes even as it emerged that the Kenya Defence Forces had sought allocation of Sh6.6 billion to offset the retailer's debts tied to the property's title in order to unlock a smooth takeover of the 3.7 acre land and buildings for military use.
