The high court has extended Imperial Bank Limited receivership by 90 days following an application by the Bank’s Shareholders that sought more time for the stakeholders to dialogue on reviving the bank.
The receivership period had initially been extended to April 14, 2017.
Kenya Depositors Insurance Corporation lawyer Phillip Murgor however told the court that the 90 days will be used by the receiver to engage the depositors about their payment.
The Shareholders filed a contempt of court case against Central Bank of Kenya (CBK) Governor Patrick Njoroge and Kenya Deposit Insurance Corporation (KDIC) CEO Mahmoud Mohamed alongside Board of Directors last month for defying a court’s directive requiring them to reveal information relating to receivership of the bank.