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Kenya Court rejects Imperial Bank liquidation

Judge does not accept CBK's motivations

07-11-2016 by redazione

The long story of Imperial Bank Kenya seems still far from complete. The Credit Institute in receivership for more than a year, has not yet lost hope of being able to re-open its doors or otherwise fall within Financial around blending with other realities of the country.
The Court of Kenya in fact, yesterday rejected the request of the Central Bank of Kenya (CBK) and the depositor insurance fund, KDCI, to liquidate the bank considers inadequate the proposed compensation to significant creditors by the majority shareholders.
After CBK and KDCI had held up as shareholders were largely responsible for the economic collapse that had led to the closure, asking them to compensate creditors, the same shareholders and owners had reported the Central Bank, signaling some managers and employees of CBK and KDCI as accomplices of the manager AbdulMalek Janmohamed deceased in the financial fraud that led to the Imperial crack.
Now the second round saw winners shareholders, who still have time to find a satisfactory economic plan to resume activities or join a third party, to avoid having to pay that still stuck savings to customers, but can handle a plane and falls investments with them.
Among the major creditors there are also some foreigners, including many Italians in Malindi, Watamu and Mombasa.

TAGS: Imperial MalindiImperial Bank Kenya

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