A bid by Credit Bank to recover millions of shillings from the directors of defuncted Nyanza Spinning and Weaving Mills has flopped. In dismissing the application by the bank, Justice Jonathan Havelock said the suit is time-barred. Havelock said the parties in the suit had signed consent which put an end the obligation of the directors as guarantors of the company. The court heard that the company, which went under more than seven years ago, requested a Sh65 million bank loan between 1998 and 1999...
↧