Renowned human rights defender and veteran lawyer Gitobu Imanyara has suffered a devastating blow after the High Court delivered a landmark ruling upholding the auction of his prime multi-million shilling property situated in Nairobi’s affluent Karen suburb.
The decisive judicial order comes as a crushing culmination of a prolonged legal tussle with Ecobank Kenya, which moved to recover an astounding Sh91.7 million debt arising from defaulted bank loans.
In a dramatic court decision that has stunned the legal fraternity, the presiding judge dismissed Imanyara’s desperate petition seeking to halt the auction process.
The High Court affirmed that the financial institution acted strictly within its legal mandate after the veteran legal practitioner defaulted on his contractual repayment obligations, leaving the lender with no alternative but to execute statutory rights of sale over the charged security.
According to court filings, the former North Imenti Member of Parliament had secured substantial credit facilities from Ecobank, using his lucrative Karen real estate as collateral.
However, as non-performing loan obligations mounted without satisfactory settlement, the debt spiraled to Sh91.7 million, prompting the bank to initiate foreclosure proceedings.
Despite Imanyara’s spirited legal arguments challenging the enforcement and seeking injunctive orders to safeguard his home, the court held that bank agreements must be honored and financial obligations upheld under the law.
“The applicant failed to present compelling grounds to warrant restraining the lender from exercising its statutory power of sale,” the court noted, effectively opening the gates for court-appointed auctioneers to put the prime estate under the hammer.
The ruling marks a dramatic financial reversal for one of Kenya’s most storied legal minds. Imanyara, who earned national acclaim during the struggle for multi-party democracy and fought historic battles against state authoritarianism in the 1980s and 1990s, now finds himself fighting on the defensive against corporate debt recovery.
As news of the High Court decision sent shockwaves across the legal and financial sectors, auctioneers were reportedly making final preparations to list the prized Karen property for public auction to satisfy the outstanding Sh91.7 million decree.
The fall of the veteran advocate serves as a stark reminder of the unforgiving economic climate currently squeezing high-net-worth borrowers and prominent public figures across the country.