Sh10.7bn debt battle: Court quashes notices for auction of 14 Riverside Drive complex

Court quashed notices issued earlier this year seeking interested buyers for Nairobi’s 14 Riverside Drive.

A multibillion-shilling office block in Nairobi, 14 Riverside Drive.

The court ruled that the process Synergy Industrial Credit and Moran Auctioneers followed in the proposed public auction scheduled for May 26, 2026, was defective and invalid.

However, the judge said Synergy is free to issue fresh notices and execution documents, provided they strictly comply with the law.

“I have carefully considered the material record. I find that contrary to Synergy’s submission, the execution instruments relied upon were defective,” the judge said.

Synergy Industrial Credit said it would appeal the decision.

The court identified several defects in the execution process, including the failure to properly state the reserve price.

Source: Nation