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Ex-Nakumatt CEO home to be sold over stores debts

Ex-Nakumatt CEO home to be sold over stores debts Summary The bank, through Phillips International Auctioneers, will sell the four-bedroom villa with a servants quarter when the auctioneer’s hammer falls on August 24. Mr Shah, as Nakumatt’s guarantor, had used the property as additional security to offer comfort to the multiple bank loans. KCB had earlier sold Mr Shah’s prime property in Industrial Area, Nairobi, to Furniture Palace International Ltd for Sh1.04 billion, court records show. Wednesday August 04 2021 By BONFACE OTIENO Summary The bank, through Phillips International Auctioneers, will sell the four-bedroom villa with a servants quarter when the auctioneer’s hammer falls on August 24.

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