Updated Tue, November 29th 2016 at 08:27 GMT +3The recent judgment of Justice Odunga in Republic v. Central Bank of Kenya & Another Ex Parte Imaran Limited & 5 Others (Misc. 43/2016) in respect of Imperial Bank Limited (in receivership) (IBL) has provided the legal sector with some significant legal principles on how a bank receivership should be managed. The Applicants in this case lodged a judicial review application against KDIC and CBK challenging the legality of certain administrative actions by KDIC and CBK relating to IBL’s receivership. The Court observed that the key aim of receivership is to save an institution and not to maim it. Since 2010 and our “new” Constitution, lawyers in Kenya have been drowning in voluminous new legislation across all sectors.

Source: Standard Digital November 29, 2016 05:36 UTC