Kenya Commercial Bank sued by Foxcapital Investment Limited over alleged Sh145 billion fund transfer.[File, Standard]
A multibillion-shilling court battle between an investment company and the Kenya Commercial Bank (KCB) has erupted, with the lender accused of withholding funds wired by a Swiss company for six months without explanation
Foxcapital Investment Limited, in a case filed before the Commercial High Court, accused the bank of illegally withholding Sh145 billion that Bay Bionics Limited, a firm based in Switzerland, had sent to it to invest in Treasury bonds, public-private partnerships, and renewable energy projects.
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