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A company associated with Goldenberg architect Kamlesh Pattni has been allowed to pursue its claim of a refund of Sh8.84 billion paid to the Central Bank of Kenya (CBK).
Pattni firm suffers setback over Laico Regency deal Monday July 26 2021 By SAM KIPLAGAT Summary Westmont was seeking to overturn the demand to deposits Sh20 million before its multi-billion shilling claims against the CBK can proceed. Malaysia-based Lynwood Development Limited used its local agent, Westmont Holdings, to pay Sh185.5 million to the CBK in April 1997, being a 10 percent deposit for the purchase of Grand Regency Hotel. The hotel was ultimately sold to Libya Arab Investment Company (Laico) and renamed Laico Regency, prompting Westmont to sue seeking refund. A company associated w...