Cape Holdings to Appeal High Court Ruling in Sh10.6 Billion Debt Dispute
Originally published by Kahawatungu — Read the original article →
Cape Holdings will appeal a High Court ruling in its debt dispute with Synergy Industrial Credit, in a case involving a liability that has grown from Sh570 million to more than Sh10.6 billion and is linked to the 14 Riverside Drive complex.
Justice Patricia Mande Nyaundi ruled that the issues raised in Cape Holdings’ constitutional petition had already been addressed by other courts.
However, the company maintains that its petition raises constitutional questions that have not been conclusively determined, including whether interest should have continued to accumulate during a period when an arbitral award against it had been set aside.