Banking and legal circles are keenly waiting to see how courts resolve a case where a judge recently injuncted Stanbic Bank Kenya from auctioning a tea estate in Nandi County belonging to a flamboyant Nairobi businessman, David Langat.
It is a hotly debated issue within the legal and commercial banking fraternity because at stake is a rare occurrence, where a judge has invoked the concept of public interest to justify a decision stopping a lender from auctioning a distressed asset. Neither the legality nor the quantum of borrowing is disputed.
