Kenya: Co-Op Bank to Sell Sony Sugar Property Over Sh862mn Debt

Kenya: Co-Op Bank to Sell Sony Sugar Property Over Sh862mn Debt

Nairobi -- Co-operative Bank of Kenya has issued a 40-day statutory notice indicating its intention to sell a property belonging to South Nyanza Sugar Company (Sony Sugar) over an outstanding debt of Sh862.3 million.

Co-op Bank Threatens Sale of Sony Sugar Property Over Ksh862M Debt

South Nyanza Sugar Company is facing the possible loss of a property after Co-operative Bank of Kenya moved to enforce a charge securing a loan of more than Ksh 862 million. The bank has issued the sugar miller with a 40-day notice of its intention to sell Land Reference No. 16339/1 if the outstanding debt […]