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...
by Allen Waiyaki Gichuhi C.Arb SC and Frankline Otieno | Jun 28, 2024 | Legal update
Loading... Taking too long? Reload document | Open in new tab Download [340.41 KB] BACKGROUND The Supreme Court has this morning delivered a decision in Stanbic Bank Kenya Limited v Santowels Limited Supreme Court Petition No. E005 of 2023 on the question on the...
by Alex Nzioka, Elvis Ogola and Frankline Otieno | May 20, 2024 | Legal update
Loading... Taking too long? Reload document | Open in new tab Download [427.15 KB] IntroductionIn the advent of the affordable housing scheme in Kenya players in the industry are determined to support the government in achieving this agenda. A major concern for the...
by Caxstone Kigata, Denis Mutugi and George Nadio | May 15, 2024 | Legal update
Loading... Taking too long? Reload document | Open in new tab Download [491.25 KB] “Bankruptcy laws were never meant to protect fraudsters rather genuine people who have been hit by factors such as harsh business environment and unavoidable business calamites. The...
