A judge has sanctioned the auction of a property at Nairobi’s 14 Riverside Drive over a debt of Sh5 billion arising from a long-running court dispute.
Justice Alfred Mabeya on Friday allowed Synergy Industrial Credit to auction the complex in which DusitD2 hotel stands after dismissing an application by I&M Bank and its administrator, seeking to stall the sale arguing that the company, which owns the building owes them a debt of $25 million (Sh2.82 billion).
