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Equity barred from Mututho home sale in Sh20m loan row


Equity barred from Mututho home sale in Sh20m loan row
Thursday April 29 2021
By BRIAN NGUGI
Summary
Equity Bank had earlier obtained orders to sell the property in Riruta Satellite, Kawangware, which it holds as securities for a Sh9 million loan the MP borrowed 20 years ago, in a public auction.
A court has blocked Equity Bank’s #ticker:EQTY plan to put the multimillion-shilling matrimonial home of former Naivasha MP John Mututho on sale in a bid to recover a Sh20 million accrued debt.
Senior resident magistrate Peter Muholi put the planned auction of the MP s prime property in Nairobi comprising an eight-bedroom double-storey residential house on hold until an application is heard and determined. ....

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Mututho Salvages 8-bedroom Matrimonial Home in Nairobi


Mututho Salvages 8-bedroom Matrimonial Home in Nairobi
Former Naivasha MP John Mututho addressed the media on September 18, 2019 in Nakuru County
Daily Nation
Former NACADA Chair John Mututho has temporarily saved his 8-bedroom matrimonial home in Nairobi’s Kawangware area from being auctioned over a Ksh20 million debt.
The two-storey mansion located in Riruta Satellite had been held as security for a Ksh9 million Mututho obtained from a local bank.
After rushing to court to stop the sale, Senior Resident Magistrate Peter Muholi suspended the auction until an application is heard and determined.
Former National Authority for Campaign against Alcohol and Drug Abuse (Nacada) chairman John Mututho. ....

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