The High Court in Nairobi has stopped the Central Bank of Kenya (CBK) from liquidating Imperial Bank Ltd (IBL) until the relevant legal provisions are complied with.
Justice George Odunga, while delivering the judgement on Friday directed Kenya Deposit Insurance Co-operation (KDIC) to engage stakeholders and depositors to review available options to save the bank.
The shareholders had filed a judicial review application in February this year after CBK allegedly set off the process of transfer, which includes selling the banks assets and eventually liquidating it.
I compel CB…
Read the full article at: http://www.standardmedia.co.ke/article/2000222445/relief-for-imperial-bank-as-court-thwarts-cbk-s-liquidation-bid