Business Daily | by Otiato Guguyu
The Court of Appeal has cleared National Bank of Kenya (NBK) to auction property of the late Mombasa tycoon Tahir Sheikh Said-TSS over a Sh3.7 billion loan.
A three-judge bench ruled that Juja Coffee Exporters Limited – majority owned by TSS – admitted to taking the loan, arguing that a dispute over the size of the unpaid debt was not enough to stop the auction of the property in Lamu.
The TSS company took two overdraft facilities, pre-shipment and post-shipment facilities with NBK in 2013 and 2016 that…
