Business Daily·5 min read·medium
KCB wins fight to auction Cytonn hotel in Sh425m row
J
Joseph Wangui
✦AI Summary
The Kenyan High Court has authorized KCB Group to auction the Cysuites Apartment Hotel to recover a defaulted loan of Sh425.6 million. The court ruled that Cytonn Investments, as a shareholder, lacks the legal standing to block the sale of property owned by Wasini Resorts.
The High Court has cleared KCB Group to auction Cysuites Apartment Hotel, a luxurious serviced apartment hotel owned by Cytonn Investments, over a defaulted Sh425.6 million loan.
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