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Dubai Bank claims Sh1bn from ex-owner

Former Dubai Bank chairman Hassan Zubeidi. PHOTO | FILE

Collapsed lender Dubai Bank has filed a suit claiming the $11 million (Sh1.1 billion) its founder and former chairman, Hassan Zubeidi, is demanding from Khartoum-based contractor Active Partners Group.

The move opens a new front in the battle for the bank’s assets. Through its receiver manager, the Kenya Deposit Insurance Corporation (KDIC), the bank has moved to court claiming ownership of the money that Mr Zubeidi is pursuing as compensation for a botched electrification project.

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