Stanchart clashes with pensioners, RBA in Sh7 billion payout battle

StandChart moved to court seeking to suspend a tribunal's verdict that exposes it to a Sh30 billion settlement for its employees. [File, Standard]

Standard Chartered Bank on Tuesday clashed with Retirement Benefits Authority (RBA) and the Attorney General over the retirement benefit rules in an extension of its Sh7 billion row with its former employees.

The bank, in its case before the High Court, Gregory Mutai, argued that the rules on the costs to be paid in a case were processed and gazetted by the former Finance Minister Chris Okemo instead of the Chief Justice.