Business

70-Year-old Woman Sues Faulu Microfinance Ltd For Auctioning Her Sh150 Million Property

The High Court of Nairobi will on November 8th 2019 hear a case of a 70-year-old widow Alice Wanjiru who is condemning a bank of fraudulently auctioning her Ksh.150 million property to recover a affirmed Ksh.65 million loan.

On Thursday,Justice David Majanja took over the case after Justice Mary Kasango recused herself following a petition by Alice Wanjiru’s lawyer Harrison Kinyanjui.

Justice Majanja, while declaring the new date, asserted that he needs time to go through the file before hearing the case.

Ms.Wanjiru, says Faulu Microfinance Bank Ltd illegally sold her property to Oksana Investment Supplies Ltd based on a false claim that she defaulted on compensating a loan.

The bank however maintains that it was within it’s right to auction the property to recover the loan, adding that it gave the woman enough time to pay but she refused to comply.

Oksana Investment also filed a counter-suit to evict Ms. Wanjiru from the premises claiming it legally acquired it through sale by public auction.


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