Stanbic gets nod to auction property over Sh56m debt

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Business Daily | by Joseph Wangui


Two freight and shipping companies have lost bid to stop Stanbic Bank from auctioning their properties over Sh56 million loan default following disruption of business by the Covid-19 pandemic.

Seahawk General Logistics Ltd and Matrix Logistics Ltd wanted the court to issue orders against the lender’s decision to sell their 29 land parcels in Karen, Kajiado/Kaputei North and Ngong to recover the loan…

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