Kampala International University escalates Sh1.8bn loan fight with Housing Finance Company

Housing Finance Company managing director Sam Waweru. FILE PHOTO | NMG

Kampala International University has been allowed to amend a petition it filed at the Supreme Court in a loan dispute with Housing Finance Company of Kenya.

A bench of five judges led by Deputy Chief Justice Philomena Mwilu allowed the application by the university, saying the amendment will place the issues in dispute in perspective to facilitate the determination of the appeal.

The university moved to the Supreme Court and obtained temporary orders blocking the mortgage lender from selling its three parcels of land in Kajiado to recover the Sh1.8 billion ($12,767,508.33) loan.

Informed position

The lender was awarded the money by an arbitrator in September 2019 but the university escalated the dispute to the Supreme Court, maintaining it was not given a hearing at the High Court.

“The unavailability of the proceedings of the superior courts below and the time taken to secure them is not attributed to the fault of the applicant (university).

The respondent (HF) has not controverted this limb of argument or demonstrated any likely prejudice if this prayer is granted. This renders the prayer as one for allowing,” the judges of the apex court ruled.

The university told the court the information to be included in the amendment will enable determination from a fully informed position.

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