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Saturday, December 3, 2022 – The Court of Appeal sitting in Nyeri County has stopped the planned auctioning of White Rhino Hotel in Nyeri town on the condition that it pays KCB Bank Sh69 million within 60 days.

The order was issued on Friday by a three-judge bench comprising justices Wanjiru Karanja, Lucy Kimaru, and Aggrey Muchelule.

It was delivered following a consent signed between White Rhino’s managers – Cedarwood Hotels and Resorts Investments Company – and KCB.

The consent showed that the hotel had agreed to pay the money pending the determination of its intended appeal.

Court documents show the hotel moved to the appellate court last week following a ruling by High Court Judge Florence Muchemi on November 10 that allowed the bank to resume the auction over an Sh670 million debt.

In the ruling, Justice Muchemi found that Cedarwood had placed the property as security for the loan that dated back to November 2013.

The Judges also ordered the hotel managers to file their intended appeal on the ruling within 60 days.

“Failure to present the appeal before the court within the given period will automatically allow the respondent, KCB, to exercise its statutory power of sale and proceed with execution of the auction,” the judges said.

The appeal is the hotel’s second attempt to stop the auction, which was first slated for June 2 but was stopped temporarily after Justice Muchemi issued injunction orders.

The Kenyan DAILY POST.

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