Former Cabinet Secretary Raphael Tuju’s Karen property was on Tuesday placed under receivership due to a Sh2.2 billion debt under an old law that favours asset auction over a rescue plan.
The East African Development Bank (EADB) appointed consultancy firm PricewaterhouseCoopers (PwC) as receiver managers for the 20-acre property and the high-end Dari hotel, which Tuju estimated to be worth Sh3.5 billion.
