KCB wants Appeals court to overturn ruling on bank surety

Kenya Commercial Bank (KCB) wants the Court of Appeal to set aside a ruling in which the High Court ordered that the dispute between it and a Tanzania agency over bank performance guarantee should be determined by the latter court.

The bank's lawyer Philip Nyachoti yesterday told Court of Appeal that before his client lodged the appeal on June 2,2015, Justice Mary Kasango on March 15, 2015,  found that the dispute between KCB and Tanzania National Road Agency over bank guarantee of Sh700 million the bank issued as a surety for Kundan Singh Construction company had not been fully determined.