The court said maker-checker approvals and payment schedules do not establish payment of the money.
By
Joseph Wangui
Correspondent
Nation Media Group
Banks defending disputed payment claims must prove funds reached the intended recipient rather than rely on internal processing records, the High Court in Nairobi has ruled.
The bank's liability arose from its failure to protect the account after the fraud had been reported.
The High Court set aside a Sh8.4 million refund award but upheld findings that the lender unlawfully varied interest rates and…
The funds are linked to forged documents, suspicious payments from Invest & Grow Sacco and a person who falsely posed as a lawyer.
The judges found that the restructuring could not, by itself, discharge the guarantor because the agreements expressly authorised…
In the judgment, the court held that the renewal of a CEO’s contract in a State corporation is not solely a board decision but is…
The dispute stems from a Sh104 million debt owed by Bomas of Kenya to SIB following an arbitration award.
