High Court Orders Auction of Ecobank Assets in Sh284m Koinange Estate Case
The High Court has directed the attachment and sale of Ecobank Kenya’s movable assets to settle a Sh284 million debt owed to the estate of the late Cabinet minister Mbiyu Koinange.
In orders issued on Friday, September 19, 2025, the court registrar instructed Moran Auctioneers to seize the bank’s property after issuing a 15-day notice and making a public announcement.
The directive stems from a decree linked to Succession Cause No. 527 of 1981, a long-running legal battle surrounding the Koinange family estate.
This development follows a ruling delivered on June 26 by Justice Eric Kennedy Ogolla, who found Ecobank liable for allowing unauthorized withdrawals from an estate account. The account, held at Ecobank Towers in Nairobi under number 001005011762001, was allegedly depleted without the necessary approvals.
Justice Ogolla ordered the lender to reimburse Sh284 million plus accrued interest, dating back to the original deposit.
Court records show the estate sued the bank in March 2024, seeking a full account of the missing funds and the disclosure of individuals who benefited from the unauthorized withdrawals.
With the latest directive, Moran Auctioneers has been cleared to proceed against Ecobank’s assets should the debt remain unpaid, setting the stage for a forced recovery of the disputed funds.
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High Court Orders Auction of Ecobank Assets in Sh284m Koinange Estate Case