by Lawrence Ongeri, Flavious Chepkirui and Najib S. Ahmed | Nov 5, 2024 | Legal update
Our client advanced facilities to a Chargor, who accepted the terms via Letters of Offer and executed a Charge and a Deed of Assignment of Rental Income as security. Following the Chargor’s default in servicing the loan and failure to rectify it despite...
by Prestone Wawire, Pacifique Muhizi, George Nadio and Denis Mutugi | Oct 25, 2024 | Legal update
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by Caxstone Kigata and Denis Mutugi | Oct 15, 2024 | Legal update
INTRODUCTION The High Court has juridically pronounced itself that State Corporations are not insulated from garnishee proceedings. Justice Hon. P Mulwa while determining our client’s, Export Trading Company Limited, garnishee application, for the release...
by Virginiah Nduta, Flavious Chepkirui and Denis Mutugi | Oct 7, 2024 | Legal update
Introduction It is a common practice in the business world for Parent and Holding Companies to provide collateral and guarantee support for loan financing to their subsidiaries and sister companies. There are usually no legal restrictions whatsoever on issuing cross...
by Prestone Wawire, George Nadio and Denis Mutugi | Aug 1, 2024 | Legal update
“Based on the above law, and in the absence of evidence to the contrary, I am of the view that the actions carried out by the administrator fell within his mandate. Further, I am not aware of any bar in law that prevents the Bank from pursuing the provisions of the...
by Allen Waiyaki Gichuhi C.Arb SC | Jul 13, 2024 | Legal update
In a precedent setting judgment delivered on 5th July 2024 in Milimani HC.Comm/206/2019 Union De Banques Arabes Et Francaises v Chase Bank Kenya Ltd (In Receivership) and SBM Bank Kenya Limited, the high court held that the concept of a quistclose trust was a...
