Nairobi, Dec. 4 -- The High Court has dismissed a 12-year lawsuit filed by a businessman challenging Kenya Commercial Bank's (KCB) auction of his 67-acre Nyandarua farm, ruling that the lender lawfully exercised its statutory power of sale following prolonged loan default.

The court found that the trader, Jack Githae, failed to substantiate claims of fraud, illegality, undervaluation, or breach of injunction, affirming KCB's adherence to legal procedures in selling the property.

Mr Githae had sought to nullify the December 2008 auction, cancel titles issued to the new buyer, and reclaim ownership -or alternatively receive compensation for an allegedly unlawful sale at an undervalued price.

The court rejected these demands, noting KCB's...