Trader loses bid to block NBK takeover of city leather firm

The High Court has dismissed an attempt by a supplier to stop the National Bank of Kenya (NBK) and its appointed receiver manager from taking control of a leather-processing business linked to Zingo Investments Limited.

The court ruled that Yobesh Kenya Ontiria, trading as Hillbase General Suppliers, had shown only a contractual claim for Sh26.3 million and no registered security interest capable of overriding the bank’s rights.

NBK, which is owned by Nigeria's Access Bank Plc after being acquired from KCB Group in May 2025, is pursuing recovery of Sh733 million from the leather processor.

The dispute centres on two Zingo Investments' properties charged to NBK, which the supplier claimed had also been offered as security for payment of his outstanding debt.

The case pits an alleged unpaid hides-and-skins supplier against a lender seeking to recover a larger debt from Zingo, whose business and assets are under receivership.