The High Court had last week stopped the CBK from transferring any assets to NIC Bank after the collapsed lender’s owners challenged the move. The judge declined a request by Imperial Bank Ltd’s shareholders to halt the agreement between KDIC and NIC. The High Court yesterday gave the Central Bank the nod to continue recovering assets and liabilities of the collapsed Imperial Bank in receivership, pending determination of a case filed in court. However, Justice Odunga barred the two institutions from disposing off other assets of IBL until the dispute is resolved. Justice George Odunga said CBK’s agency Kenya Deposit Insurance Corporation and NIC Bank are at liberty to review and identify the quality of assets of the collapsed bank as agreed on June 21.

Source: The Star June 30, 2016 00:56 UTC