Business Daily | by Otiato Guguyu
Collapsed flower firm Karuturi owners want Stanbic Bank and receiver managers to pay them Sh1.2 billion for demolition of a hotel on the property.
Anitha Karuturi and Sai Ramakrishna Karuturi have sued the bank and receiver managers for the demolition of Masdam House, which stood on Plot No. 9352/3 Naivasha. They argue the hotel was not part of the securities offered.
They want compensation for the 2015 demolition, noting that the hotel was utilized as a wildlife and bird watching lodge and…
