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Kenyan bank refuses to disclose information on disputed flower firm loan

A bank has appealed against a decision of the high court that it manufactured statements of accounts of a company it advanced a loan 27 years ago to finance a flower project in Nyandarua County.

The Kenya Commercial Bank (KCB), which advanced a loan to Benjoh Amalgamated Limited in 1989, is asking the court of appeal to quash the finding of a former High Court judge that it “had manufactured the statement of accounts of the company.”

Benjoh had disputed the outstanding loan amount the bank demanded saying it did not know how a figure of Sh70 million (680,000 USD) was arrived at as no proper statement of accounts was availed to it on request.

KCB had asked the late Justice Joyce Khaminwa to dismiss the case by Benjoh seeking the accounts saying the issue had been revisited in 18 previous cases.

Benjoh says the amount demanded by the bank between May 9, 1996 and May 9, 2006 was Sh143,844,249.59 (1.4 million USD).

Read more at the Daily Nation

Publication date: 1/3/2017



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