The court will today mention a case where Trans Century Ltd has challenged Equity Bank's takeover of their firm over a disputed Sh4.8 billion loan.
Last month, a commercial court temporarily suspended a decision by Equity Bank appointing receiver managers to run the affairs of the investment firm over the loan.
Justice Alfred Mabeya certified the case filed by TransCentury PLC as urgent.
He further stopped the bank and the two receiver managers from denying the firm directors and their officials all company records, emails, all funds, all contracts and security keys pending the determination of the case.
The Judge issued the order after the firm through Nyachoti and Company Advocates told the court that the appointment of George Weru and Muniu Thoithi (Receiver managers) will cripple their operations particularly the ongoing massive projects including the ones being carried out by its subsidiaries.
Some of the projects valued at over Sh4 billion are in Kenya, Tanzania, Uganda, DRC and Zambia.
Most are at an advanced stage, and others have been finalized just pending inspection and approval.
The completion of these projects, according to the firm, will also raise additional funds towards the liquidation of the outstanding debt.
The projects vary from the supply and installation of weighbridges, renewal of expired licences, among others.
The firm told the court that it has been liquidating the outstanding debt and has made all the efforts to agree on a workable program with Equity in light of the hard economic situations in the country.
