Nairobi Tycoon Saved From Losing Ksh2B Hotel
Design of the Blue Water Hotel in Kisumu which is under construction
File
Nairobi businessman William Osewe, the owner of the popular K Osewe Ranalo Foods Restaurant, has been offered reprieve after the Court of Appeal blocked the forced sale of his Ksh2 billion property which includes the stalled four-star Bluewater Hotel in Kisumu and an apartment in Nairobi’s South C estate.
The High Court had given a local bank the green light to auction the property over a Ksh 330 million loan but the Court of Appeal has ruled that the family had substantive arguments to stop the process.