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NAIROBI, KENYA: Former Co-operative Bank Chief Executive Officer Erastus Mureithi has won a 14-year legal battle against the bank that wanted to recover Sh25 million from him.
The Court of Appeal has quashed a demand that he should repay Sh25 million which the bank had paid as taxes and fees for his children education.
Mr Mureithi, also a former Ol-Kalou MP, took the legal battle to the Court of Appeal after High Court ordered him to pay Sh11 million plus interest which was to be calculated from 2003.
The bank was initially demanding Sh14 million but the High Court lowered the amount by Sh3 million, although the total amount would attract at least 14 per cent interest on default.
The decision would have pushed the payout to around Sh25 million but Court of Appeal ruled in his favour.
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