A Kenyan High Court warrant authorised attachment of Bank of Baroda Kenya’s movable property unless the lender pays KSh2.996 billion to Infinity Industrial Park. The warrant was issued on 15 September. It directs Moran Auctioneers to attach the bank's movable property and, after 15 days' notice, sell it by public auction if the amount remains unpaid.
The enforcement action follows a court order requiring the bank to pay Infinity Industrial Park. The dispute concerned a KSh1.976 billion facility advanced in 2019 for a planned industrial park. The Standard reported that the bank’s position in the wider dispute was that the loan had fallen into arrears and that it was entitled to retain the charged property as security; the bank blamed its former lawyers for failing to communicate court directions concerning its defence. The warrant records KSh2,996,003,000, including further costs and collection fees. It must be returned to the court by 15 October.
WARRANT SETS OUT ENFORCEMENT POWERS
The warrant directs Moran Auctioneers to hold any attached property until further orders of the court unless the bank pays the outstanding amount together with the costs of attachment, The Standard reported.
The KSh2.996 billion figure exceeds the original 2019 facility because the court awarded Infinity special damages of KSh2.996 billion; further costs and collection fees add only KSh3,000. The bank has sought a review of the High Court's 31 July ruling that refused to set aside the default judgment, arguing that the judgment exposes it to potentially severe financial and operational consequences, The Standard reported.
RETURN DATE FALLS IN OCTOBER
The enforcement order concerns the Kenyan unit rather than the India-based parent group.
The next concrete milestone is the warrant’s 15 October return date.
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