11th November, 2016
Imperial bank shareholders have faulted the central bank and the kenya deposit insurance corporation over the manner in which they have allegedly interpreted a high court ruling over liquidation of assest of the bank. In a statement to newsrooms, the shareholders say they want CBK and KDIC to respect the legal rights of all stakeholders in any plan for the bank’s future. The statement further reads “the shareholders’ priority has been, and will continue to be, achieving the best possible outcome for all stakeholders. According to the statement, while KDIC and CBK may continue to pursue their agreement with NIC bank limited to assume certain of IBLR’s assets and liabilities. This was not permitted by the judicial review ruling. In fact, the judicial review ruling maintained and confirmed the orders made on 29 June 2016 which stated that “....the CBK and KDIC shall not dispose of other assets of IBLIR pending the determination of the proceedings or other