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Originally published by The Standard BusinessOctober 5, 2025
4h ago
Reprieve for Guardian Bank and Chandaria in lender buyout row
The Court of Appeal has handed businessman Chandaria’s family a major reprieve after reducing a Sh2.5 billion award handed by the High Court in row over Guilders Bank ownership...
✨ Key Highlights
The Court of Appeal has significantly reduced a Sh2.5 billion award against the family of businessman Maganlal Motichand Chandaria in connection with the purchase of Guilders International Bank.
- The family is now obligated to pay Sh750 million, which includes a principal amount of Sh196 million for the bank’s purchase.
- The court ruled there was no evidence requiring Guardian Bank to pay for Guilders’ purchase.
- This decision provides a major reprieve for the Chandaria family in the long-standing ownership dispute.
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