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Originally published by Capital Business
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business
May 29, 2026
2h ago

Appeal Court Clears SBM to Recover Sh779 Million Through Alma Sale

Appeal Court Clears SBM to Recover Sh779 Million Through Alma Sale

NAIROBI,Kenya May 29-Cytonn Integrated Project has suffered a major legal setback after the Court of Appeal cleared the way for the auction of its Kenya breaking news | Kenya news today |..

✨ Key Highlights

The Court of Appeal has cleared SBM Bank Kenya to auction the high-end Alma residential development in Ruaka, allowing the bank to recover approximately Sh779 million owed on defaulted construction loans.

  • The court dismissed Cytonn Integrated Project's plea to halt the sale, stating they failed to meet the legal threshold for an injunction.
  • Key parties involved are SBM Bank Kenya, Cytonn Integrated Project LLP, and the Official Receiver.
  • The dispute stems from loans advanced in 2019 and is linked to the collapse of the Cytonn High Yield Solutions LLP investment structure.

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