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Fight over Nakumatt Sh2b estate intensifies

The main entrance to collapsed supermarket chain Nakumatt's ex-head office off Mombasa Road in Nairobi

One of the banks seeking to auction a Sh2 billion property belonging to collapsed retailer Nakumatt over unpaid loans, has been cited for flouting the law.

The High Court has ruled that Bank of Africa failed to comply with the law by not serving other creditors with appropriate notice before initiating the process of the sale of Nakumatt’s former head office in Nairobi’s Industrial Area. 

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