High Court Rules on Auction of 14 Riverside Drive Property

A long-running commercial dispute over the Nairobi property has taken a new turn following the High Court’s latest decision.

The High Court has stopped the planned auction of a property at the 14 Riverside Drive complex in Nairobi after finding the process leading to the sale defective and invalid.

In a ruling issued on Thursday, October 8, Justice Moses Ado set aside the warrants and auction notices that had paved the way for the property’s disposal.

The decision came after a court notice ordered that the auction be held on May 26 to recover about Ksh4.9 billion that had accumulated from a failed office-block purchase.

The court also dismissed an objection by the creditor seeking to enforce payment through the auction, which had challenged the court’s jurisdiction.

Additionally, allegations made against the court by the creditor were also ordered removed from the record.

The long-running commercial dispute dates back to 2010, when the creditor agreed to purchase two office blocks within the Riverside development.

Source: Kenyans.co.ke