A Sigh of Relief to Financial Institutions! – The High Court Rules That A Charged Property Can Be Sold Below the Forced Sale Value

A Sigh of Relief to Financial Institutions! – The High Court Rules That A Charged Property Can Be Sold Below the Forced Sale Value

“Upon perusal of the provisions of Section 104(1) of the Land Act, it is apparent that an application for leave to sell a charged property by public auction at a value below its forced sale value ought to be filed before the property is sold.  Section 104(2) (d) of...
State Corporations are not insulated from Garnishee Proceedings, High Court rules as it allows Export Trading Co. Ltd to Garnishee Kshs.1.7billion held by 3 banks in favour of NCPB

State Corporations are not insulated from Garnishee Proceedings, High Court rules as it allows Export Trading Co. Ltd to Garnishee Kshs.1.7billion held by 3 banks in favour of NCPB

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...