Business
Court Okays Auctioning of Ecobank Properties to Recover Sh254 Million Debt
The estate had sued the lender in March 2024, demanding a full account of the missing money and the identities of those who benefited from the withdrawals.
The High Court has ordered the auction of movable assets belonging to Ecobank Kenya Limited in a bid to recover Sh284 million owed to the estate of former Cabinet minister Mbiyu Koinange.
In directions issued on September 19, 2025, the court registrar instructed Moran Auctioneers to proceed with the attachment and sale of the bank’s property after issuing a 15-day notice and conducting a public proclamation.
The auction seeks to enforce a decree granted in Succession Cause No. 527 of 1981, following a long-running dispute between the late minister’s estate and the lender.
The directive stems from a ruling delivered on June 26, 2025, by Justice Eric Kennedy Ogolla, who found Ecobank liable for irregularly permitting the withdrawal of funds from an account belonging to the estate.
The account, domiciled at Ecobank Towers in Nairobi, had been operated under the number 001005011762001.
Justice Ogolla ruled that the bank acted unlawfully and ordered it to reimburse Sh284 million, together with interest accruing from the date the deposit was made.
The estate had sued the lender in March 2024, demanding a full account of the missing money and the identities of those who benefited from the withdrawals.
The court’s latest directive now paves the way for the auction of the bank’s property if the debt remains unsettled.
Kenya Insights allows guest blogging, if you want to be published on Kenya’s most authoritative and accurate blog, have an expose, news TIPS, story angles, human interest stories, drop us an email on [email protected] or via Telegram
Kenyan player wins a Ksh3.2 million jackpot
IEBC Sets August 10 Date For 2027 General Election
Furious Ruto Lashes Out at Gideon Moi Over Repeated ‘Blackmail, Extortionist’ Headlines on The Standard and KTN
Mombasa Gripped by ‘Male Organ Theft’ Panic as Social Media Fuels Mob Attacks and Fear
TOO MUCH PR, NOTHING TO SEE: How Gladys Wanga Built a Perfect Story of Transformation While Homa Bay Bled
Netanyahu Says Israel Must ‘Break Free from Dependence’ After Tensions With Trump Administration
Niger pulls Out Of International Criminal Court After Calling It Neo-Colonialist
Kenya Awards Sh154 Billion JKIA Upgrade Tender To Chinese Firm CRBC
The Untouchable: How KURA’s Silas Kinoti Has Survived A Decade Of Corruption Storms While Kenya’s Roads Bled
Fake Papers, Dirty Millions And The Analo Connect: How Kitisuru MCA Alvin Palapala Built a Shadow Empire Inside Nairobi’s Planning Machine
Businessman Philip Waithaka Kinuthia’s Minor Son Allegedly Drove Drunk, Killed Two Peponi Students in Ngong Road Horror Crash as Claims of Cover-Up Intensify
Inside NCBA’s Decline: How a Banking Giant Lost Its Strategic Edge
South Sudan: Adut Salva Kiir’s Shadow Treasury Exposed
Cement, Cash and Courts: How the Hashu Dynasty Crushed the Ramji Brothers for Fourteen Years and Why the Walls Are Now Closing In
Standard Chartered Ghosts Haunt Joshua Oigara At Stanbic As Whistleblower Spills Beans
Inside The Urban Planning Cartel That Owns Nairobi
THE VULTURE AND THE SCHEME How Nairobi West Hospital Became the Most Dangerous Institution in Kenya’s SHA Ecosystem and Why the Books Must Be Audited Now
The President’s Daughter and The Missing Witness: How Adut Salva Kiir’s Shadow Treasury Silenced Its Most Dangerous Critic
How Adil Popat Saved His Empire On The Eve Of Imperial Bank Collapse and Why Kenya’s Mainstream Media Buried The Story
Why John Ngumi Is Running From the EACC and Why the Sh415 Million Payday May Be the Least of His Worries
-
News1 week agoBusinessman Philip Waithaka Kinuthia’s Minor Son Allegedly Drove Drunk, Killed Two Peponi Students in Ngong Road Horror Crash as Claims of Cover-Up Intensify
-
Africa2 weeks agoSouth Sudan: Adut Salva Kiir’s Shadow Treasury Exposed
-
Business2 weeks agoStandard Chartered Ghosts Haunt Joshua Oigara At Stanbic As Whistleblower Spills Beans
-
Investigations5 days agoTHE VULTURE AND THE SCHEME How Nairobi West Hospital Became the Most Dangerous Institution in Kenya’s SHA Ecosystem and Why the Books Must Be Audited Now
-
Africa2 weeks agoThe President’s Daughter and The Missing Witness: How Adut Salva Kiir’s Shadow Treasury Silenced Its Most Dangerous Critic
-
Business2 weeks agoHow Adil Popat Saved His Empire On The Eve Of Imperial Bank Collapse and Why Kenya’s Mainstream Media Buried The Story
-
Business2 weeks agoWhy John Ngumi Is Running From the EACC and Why the Sh415 Million Payday May Be the Least of His Worries
-
Business5 days agoInside the Billion-Shilling Betrayal: How Senior Treasury Officials Plundered a UN Poverty Fund and Built a Real Estate Empire on the Backs of Kenya’s Rural Poor