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Court dismisses bid to stop sale of Spire Bank

Spire Bank, Chester House branch. Teachers are concerned the lender could sink with their hard-earned savings. [Wilberforce Okwiri, Standard]

The High Court has dismissed a petition seeking to block the winding up of Spire Bank, paving the way for the sale of the troubled lender.

Justice Fred Ochieng recently threw out a petition filed at the High Court in Kisumu seeking to block Mwalimu Sacco from winding up the bank that has failed to find a buyer or a strategic investor to inject in fresh capital.

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