Peter Munga loses bid to block Britam shares auction over $3.35 million loan

Peter Munga Loses Sh510M in Britam Shares Auction — NAIROBIminiBLOGGERS

The post Peter Munga Loses Sh510M in Britam Shares Auction appeared first on NAIROBIminiBLOGGERS. Business tycoon Peter Munga has suffered a major legal blow after the High Court rejected his attempt to stop the auction of his 75 million Britam Kenya shares. The shares, valued at approximately Sh510 million, will be sold to recover a Sh433.76 million loan default owed to ABC Bank. Court Slams Munga for Abusing Legal Process Justice Dorah Chepkwo…

Peter Munga loses bid to block Britam shares auction over $3.35 million loan

Key PointsKenyan court lifts order blocking ABC Bank from auctioning Peter Munga’s Britam shares to recover $3.35 million in loans.Munga's attempt to withdraw a previous case was dismissed for failing to disclose a similar suit, deemed an abuse of court process.Munga faces ongoing financial struggles as assets, including Britam shares, are at risk due to unpaid loans linked to Equatorial Nut Processors.A Kenyan court has lifted an order blocking…