Case Number APPLICATION NO. 14 OF 2019 (Arising from Reference No. 8 of 2017)
Summary

Imperial Bank Limited, a financial institution registered in the Republic of Kenya, was on 13th October 2015 put under receivership by the Central Bank of Kenya (‘the First Respondent’), and placed under the supervision and management of the Kenyan Deposit Insurance Corporation (KDIC) for twelve (12) months. This action by the First Respondent was informed by allegations of fraudulent activities of substantial magnitude, as well as the misrepresentation of Imperial Bank’s financial status. Despite repeated assurances by the First Respondent that the matter would be resolved in the interest of Imperial Bank’s depositors; the Governor of the Central Bank did on 28th June 2017 intimate that the Bank was due to be sold or liquidated.

RespondentTHE CENTRAL BANK OF KENYA AND THE ATTORNEY GENERAL OF THE REPUBLIC OF KENYA
ComplainantPONTRILAS INVESTMENTS LIMITED
Date filed
CountriesKenya
Keyword
Treaty Article

First Instance Judgment

VerdictIn the result, we would partially grant the Application in the following terms:
  • By consent of the Parties, the application for amendment is allowed. The Amended Reference stands duly amended by correcting the date of the meeting mentioned in paragraph 65B of the Amended Reference to read 28th June 2017.
  • The application for the production of the documentation delineated in items B13(c), (e) and (i) of Schedule A to the Application is hereby allowed.
  • The application for the production of the documents outlined in clauses B1, B2, B3, B4, B6, B7, B8, B9, B11, B12 and B13(a), (b), (d), (f), (g) and (h) of the same Schedule is hereby disallowed.
  • The application for witness summons to issue in respect of Dr. Patrick Njoroge is hereby disallowed.
  • Witness summons are hereby issued in respect of the Head of the First Respondent’s Bank Supervisory Department to appear in person for purposes of adducing evidence and production of the documents stipulated in clause 48(b) hereof.
  • We order each Party to bear its own costs.
It is so ordered.
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Date deliveredJune 15, 2020
Quorum

Appeal Judgment

Verdict
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Date delivered
Quorum