Donald Smith, a director of Five Forty Aviation Limited, has sued the Central Bank of Kenya over credit facilities advanced to him by Imperial Bank, now under receivership.
He claims that he wrote to the receiver in January proposing his money held in a deposit account to be used for settling an outstanding debt with the collapsed lender, and is accusing the receiver of failing to heed his request saying that its aim is to continue earning interest and imposing penalties that expose him to being listed with the credit reference bureau.
