By SAM KIPLAGAT More by this AuthorThe High Court has rejected a bid by Jubilee Secretary-General Raphael Tuju to stop bankruptcy proceedings against him over a debt of Sh1.6 billion. Mr Tuju had argued that the Court of Appeal had stopped all the cases related to the amount owed to the East African Development Bank (EADB), including a suit by the bank to have him declared bankrupt. Mr Tuju and his children moved to court on January 10, after the bank gave them 21 days to pay $16,550,608 (Sh1.618 billion) with interest, failing which the bank threatened to file bankruptcy suit against them. AdvertisementThe children, Yma, Mano and Alma, said in opposition to the suit that Dari Ltd was able to and had reasonable prospects of repaying the debt. For this reason, it is vital that the court considers whether the debt is secured,” Mano said in an affidavit.

Source: Daily Nation July 08, 2020 22:07 UTC