Nairobi, Aug. 20 -- An outdoor advertising company has sued Imperial Bank Ltd (in receivership) seeking to have it restrained from referring it to the Credit Reference Bureau on the basis of a Sh29.2 million loan advanced to it
Adsite Ltd also want Imperial Bank restrained from charging interest and penalties on the loan accounts and also stopped from selling or auctioning a parcel of land and a motor vehicle which are part of securities for the loans.
The ad firm that seeks the orders pending hearing and determination of its case said in or about 2014 and 2015, the bank gave it a term loan of Sh27.5 million and another Sh1.7 million overdraft.
Through lawyer Willis Oluga, the company in its application at the High Court in Mombasa argue...