The High Court has allowed the KCB Bank-appointed receiver manager Kamal Anantroy Bhatt to take over the running of Pinewood Beach Resort and Spa in Kwale after lifting an order obtained by the establishment last November.
In a ruling on April 25, Justice Peter Mulwa struck out the application filed by ITCO Investments Ltd (the owner of Pinewood Beach Resort and Spa) clearing the way for the receiver manager to take over the management of the hotel to recover a loan of Sh5.8 billion.
