Businesswoman Mary Wambui has lost her grip on her Glee Hotel in the Sh 8.9 billion loan row with Equity Bank.
Businesswoman Mary Wambui. [File, Standard]
Businesswoman Mary Wambui has lost her grip on her Glee Hotel in the Sh 8.9 billion loan row with Equity Bank.
In a major blow to President William Ruto’s ally, High Court Judge Freda Mugambi ruled that the bank had every right to appoint an administrator.
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The court said the hotel had not shown sufficient grounds to justify the interim orders it sought.
Equity Bank has appointed an administrator to manage the hotel over a debt of more than Sh7.75 billion.
Last month, the High Court gave the businesswoman Mary Wambui seven days to pay Sh100 million to Equity Bank to avoid auction.
The High Court granted the businesswoman seven days to make Sh100 million payment to stop the auction of her luxury hotel.
The High Court has handed businesswoman Mary Wambui a lifeline in the Sh8 billion debt row with Equity Bank.
Businesswoman Mary Wambui is at risk of losing all her investments and putting her two daughters in trouble with Equity Bank as…
