By BENSON WAMBUGUA businesswoman has lost the legal fight to save her mortgaged property valued at Sh100 million from the auctioneer's hammer. Mr Mutura obtained a loan from Gulf African Bank of Sh110 million in 2014 to finance the purchase of a prime property in Thika town. According to the court’s ruling, Mrs Mutura made several repayments at the initial stages but did not continue for long. The bank said as in April 2018, she was in arrears of Sh23.6 million. The bank, having previously served her with the statutory notice, instructed Garam Investment Auctioneers to proceed and sell the property by public auction on June 19, 2018.

Source: Daily Nation February 24, 2019 07:30 UTC