Bishop Yego Set To Lose Sh200 Million Kileleshwa Apartments Over Loan Default

bishop yego
Retired AIC Bishop Silas Yego. [Courtesy]

Retired AIC Bishop Silas Yego is set to lose his Sh200 million Kileleshwa apartments for defaulting on a Transnational Bank loan.

Bishop Yego had taken a Sh140 million but now owes the lender Sh153 million.

On January 11, the man of the cloth filed an application seeking to stop Purple Royal Auctioneers from auctioning his property which was put on the market in 2020.

In his ruling, Justice David Majanja said Bishop Yego failed to present before court new information to enable the court hear the matter afresh.

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“In other words, this application is res judicata (a decided matter). Further, as the Court of Appeal held, the plaintiff is indebted to the bank and nothing now stands in the way of the bank exercising its statutory power of sale,” Justice Majanja ruled as he dismissed the application.

Yego had also sought an injunction to enable him liquidate the debt by selling his property to a third party, a matter that the court threw out.

He also presented in court an offer from Fredrick Fyle (Kenya) Ltd that was willing to buy the property and offset the debt. The bank rejected the offer.

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Yego accused the bank of treating him unfairly.

“The bank has rejected them unfairly, unreasonably, maliciously and capriciously in a manner that is denying him the right to redeem the suit property,” he complained.

Last year, Yego lost two attempts to stop the auction when both the High Court and Court of Appeal ruled against him.

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Written by Eva Nyambura

Content creator at | Passionate about telling the untold story. Lover of life, music and technology. Simplicity is KEY


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