CBK loses bid to block contractor’s claim in Sh122m pay dispute
Court says CBK waited too long to challenge the award and could not revive objections it had failed to raise within the strict legal timelines...
✨ Key Highlights
The Central Bank of Kenya (CBK) has failed in its attempt to prevent the payment of a contested Sh122.4 million debt stemming from office modernization contracts initiated almost two decades ago.
- The debt is owed to furniture maker Zadock Furniture Systems and contractor Maridadi Building Contractors.
- The CBK argued the claims were settled and sought to avoid double payment, but the court found their challenge was filed too late.
- The court recognized an arbitral award issued in favor of the contractors as binding and enforceable, paving the way for payment collection.
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CBK Loses Bid to Block Contractor’s Sh122 Million Claim - June 2026
The Central Bank of Kenya failed in its attempt to prevent payment of a contested Sh122.4 million debt from office modernization contracts initiated almost two decades ago. In a related legal development, the High Court ruled that credit notes and assessor reports are sufficient proof of loss, a decision that will significantly aid insurance companies seeking compensation for damages. Meanwhile, Jubilee Holdings is expanding its retail offerings across East Africa, targeting previously underserved customer segments to drive future growth.
