PREMIUM Consolidated Bank loses bid to block Sh203m payout for botched deal High Court ruling leaves Sh203.5m software award open to execution while bank pursues an appeal against December ruling. Business Just now Listen
The High Court found that MFI’s financial records supported its ability to make restitution and rejected the bank’s argument that payment would expose it to substantial loss.5 million award over a disputed upgrade of the lender’s core banking system, after the High Court found payment would not cause substantial loss.
The High Court dismissed the bank’s stay application, saying it had not shown payment would cause unrecoverable loss if its appeal succeeded.
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