Imperial Bank sued by a company over rent arrears of Ksh 84 million for the property that houses the bank in Mombasa county.

imperial bank

Imperial Bank limited which is in receivership has been sued by a company known as Upper View Properties over rent arrears of Ksh 84 million for the property that houses the bank in Mombasa county.

Upper view Properties which is owned by the Bank Shareholders is seeking an order of eviction from piece of land measuring 0.59 acres.

Through Lawyer Andrew Wandabwa, upper view propertiesclaims that the receiver of the bank, Kenya Deposit Insurance Corporation (KDIC) which took over the property after the bank was put under receivership has refused to return the property records.

In the application, Wandabwa claims that after the Bank was put under receivership KDIC took possession of the suit property and has continued to be in possession to date.

Lawyer Wandabwa claims that the Bank’s lease expired in June 30, 2015 and upon it being put under receivership, it has refused to pay the accrued rent due.


“The Bank has refused to execute the lease forwarded to it thus becoming a trespasser, and the Company is entitled to profits in respect of the Bank continued unlawful occupation,” added Wandabwa.


He added that the Bank has refused to execute the tendered lease or pay the rents due alleging that it is the beneficial owner of the subject property on the basis that the Company acquired the suit premises from dividends declared by the Directors of the Bank when they knew, or ought to have known that the Bank was not earning any profits.


He added that the said assertion by the Bank is presumptuous, false, misconceived and made with the ulterior purpose of grabbing the said property from the Company.


“By reason of the Bank’s refusal to execute the lease, its continued possession of the Suit Premises is illegal, amounts to trespass, and the Plaintiff claims for an order of eviction and accrued profits,” said Wandabwa.

He added the Company continues to suffer loss and damage and the danger of being foreclosed upon, by reason of the fact that the rents due from the Suit Premises are assigned to Kenya Commercial Bank Limited.

The matter is being heard at Mombasa Environmental and Land division.

The company claims that the lease agreement between Imperial Bank and the Company was entered on May 28, 2010 where 31,162 Square feet was leased to the Bank within Mombasa Building.