Widow sues bank for auctioning her Ksh.150M property to recover Ksh.65M loan

Widow sues bank for auctioning her Ksh.150M property to recover Ksh.65M loan

The High Court in Nairobi will on November 8, 2019 hear a case in which a 70-year-old widow is accusing a bank of fraudulently auctioning her Ksh.150 million property to recover an alleged Ksh.65 million loan.

Justice David Majanja on Thursday took over the case after Justice Mary Kasango recused herself following an application by 70-year-old Alice Wanjiru’s lawyer Harrison Kinyanjui.

Justice Majanja, while announcing the new date, stated that he needs time to go through the file before hearing the case.

Ms. Wanjiru, in the case, says Faulu Microfinance Bank Ltd illegally sold her property to Oksana Investment Supplies Ltd based on a false claim that she defaulted on repaying a loan.

The bank however maintains that it was within its right to auction the property to recover the loan, adding that it gave the woman enough time to pay but she refused to comply.

Oksana Investment also filed a counter-suit to evict Ms. Wanjiru from the premises claiming it legally acquired it through sale by public auction.

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