Billionaire businessman Peter Munga has failed to block the auction of his 75 million shares in insurer Britam over Sh433.76 million defaulted bank loan that he had guaranteed one of his companies.
High Court Judge Alfred Mabeya said that the businessman had no reason to block ABC Bank from attaching his shares valued at Sh604 million as a guarantor because the loan advanced to Equatorial Nut Processors remains unsettled.
