Plans by East Africa Cables #ticker:CABL to suspend a receiver manager appointed by Ecobank over a debt of Sh190.5 million has been rejected by a judge who ruled that the company failed to show that the appointment was made in bad faith.
Ecobank on January 31 appointed Kereto Marima, as the receiver manager, to manage certain assets of the company over the debt. However, the cable firm moved to court in February, seeking to suspend the appointment.
