The depositors had filed separate suits alleging that they were left out of the initial payments made to depositors by the Kenya Deposit Insurance Corporation (KDIC).
The receiver had in 2016 made two separate payments to depositors, through NIC Bank, which saw them access Sh1 million in the first payment and Sh1.5 million in the second.
About 44,300 customers of the collapsed bank's smaller customers with Sh1 million or less, who made up 89 per cent of the depositors prior to its fall, benefited.
Imperial Bank depositors who moved to court two years ago seeking orders compelling the collapsed bank's receiver to pay them part of their money have suffered a setback after the High Court dismissed their case.
Justice John Mativo ruled that Vista Management Consultants Ltd, Kaushik Natwarlal Thakkar, Atul Shah and Dune Packaging Ltd failed to prove that the receiver abused its power and procedure.
The depositors filed separate suits alleging that they were left out of the initial payments made to depositors by the Kenya Deposit Insurance Corporation (KDIC).
“In view of my analysis of the law and determination of the questions raised herein above, the conclusion becomes irresistible that this is not a proper case for judicial review orders of mandamus to issue,” said Justice Mativo.
The judge said that the parties have raised issues relating to contested claim of civil nature which can only be proved through hearing of evidence.
Separate ruling
The judge, in a separate ruling, told the depositors that they ought to have filed their applications at the commercial division of the High Court, not the judicial review division which rarely ventures into the merit of a case.
The depositors moved to court in March 2017. The bank collapsed in October 2015.
The receiver had in 2016 made two separate payments to depositors, through NIC Bank, which saw them access Sh1 million in the first payment and Sh1.5 million in the second.
About 44,300 customers of the collapsed bank's smaller customers with Sh1 million or less, who made up 89 per cent of the depositors prior to its fall, benefited.
They claimed previous attempts to demand that initial payment given to other depositors, be given to them as well, were not acted upon, prompting their decision to file the cases in court.
About a third of 53,000 customers were large depositors.
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