EADB loses bid to recover Sh1.3bn from Kenya Bus Service Mombasa

EADB loses Sh1.3 billion debt recovery case against Kenya Bus Service

The East African Development Bank (EADB) has lost its bid to recover Sh1.3 billion from Kenya Bus Service (Mombasa) Limited and several guarantors after the High Court dismissed the lender’s claim, bringing to a close a legal dispute that has lasted more than two decades. In a ruling delivered on June 13, the court found that EADB had failed to provide sufficient evidence and documentation to explain how the original loan amount and accrued char…

EADB loses bid to recover Sh1.3bn from Kenya Bus Service Mombasa

EADB has lost a 23-year bid to recover Sh1.3 billion after court ruled it failed to justify the loan’s escalation.