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Imperial Bank Sh42 billion recovery takes new twist

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Imperial Bank. Photo/KENNA CLAUDE

The dispute pitting Imperial Bank former directors, shareholders, Central Bank and depositors yesterday took a new twist after the lender filed an application seeking to have three firms barred from representing defendants in the case.

The bank’s lawyer, Philip Murgor, wants Coulson Harney, Ahmednasir Abdikadir and Co. Advocates and Muriu Mungai and Co. Advocates not to participate in the proceedings in a case in which the bank is seeking to recover Sh42.2 billion.

According to Murgor, the participation of the three firms in the proceedings is prejudicial to the bank. He claims the firm of Coulson Harney undertook several assignment including a secret “Project Crown”.

The post Imperial Bank Sh42 billion recovery takes new twist appeared first on Mediamax Network Limited.


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