Nairobi, Kenya – Former Cabinet Secretary and senior economic advisor Moses Kuria has suffered a legal blow after the High Court dismissed his attempt to block Equity Bank from auctioning his properties over a Sh50 million loan.
Judge Says Kuria Failed to Make a Solid Case
Justice Aleem Visram ruled that Kuria did not present a convincing case to justify stopping the scheduled auction, which is set for April 8. The court noted that the former CS had defaulted on the loan, which has now accrued to more than Sh54 million.
Properties in Ruaka and Juja Listed for Auction
The properties under threat include apartment blocks located in Ruaka and Juja, Kiambu County. These were used as collateral when Kuria secured the loan in March 2018. The auction is being handled by Garam Investment Ltd.
Image: Former CS Moses Kuria had listed properties in Ruaka and Juja as loan security
Loan Restructuring Attempts Failed
Despite several restructuring efforts and a recent agreement to pay Sh6.4 million by March 28, 2025, the court found that Kuria had failed to honor the terms. Justice Visram noted that while Kuria cited the COVID-19 pandemic and personal illness as reasons for the default, these were not valid legal grounds to halt the sale.
Bank Followed the Law, Says Court
The court confirmed that Equity Bank had followed due process, including issuing all statutory notices required before an auction: a 90-day notice, a 40-day sale notice, and a 45-day redemption notice—all served via registered mail. Kuria did not dispute receiving them.
No Legal Grounds to Halt Auction
In a firm ruling, the court said there were no valid reasons to stop the bank from exercising its statutory power of sale. The judge also criticized Kuria for failing to request extended injunctive relief pending a full hearing.
“Having failed to pass the first hurdle, the Applicant may not leapfrog to the next. That brings the matter to an end,” concluded Justice Visram.
The auction is expected to proceed as planned on April 8, 2025.
