Business & Economy3 stories from 2 sources
The High Court has halted the release of Sh7 billion in pension funds to 629 retirees of Standard Chartered Bank due to a dispute over legal fees. The injunction was issued by Justice Moses Ado following an application by lawyer Ruth Wanyonyi. In a separate case, the High Court ordered the seizure and auction of EcoBank Kenya’s assets to recover KSh 284 million owed to the estate of former cabinet minister Mbiyu Koinange, a ruling that redefines banks’ obligations in managing estate accounts. Concurrently, a new petition has been filed in the Kenyan Parliament seeking stricter regulation of loan interest charges to combat predatory lending practices by banks, digital lenders, and shylocks.