Moses Kuria, President William Ruto’s senior economic adviser, has suffered a legal blow in his bid to stop Equity Bank from auctioning his property in Kiambu County. The High Court has ruled that the lender can proceed with the sale of the property to recover a Ksh54 million loan that remains unpaid.
In a ruling delivered on Monday, Justice Aleem Visram dismissed Kuria’s application for an injunction, stating that the former Cabinet Secretary failed to meet the legal requirements to stop the public auction.
Justice Visram noted that Equity Bank had followed all the proper legal procedures in its debt recovery process. He emphasized that Kuria had acknowledged the debt, which had remained unpaid for an extended period.
“The money owed has been expressly admitted, remains due, and has been outstanding for a prolonged period,” said Justice Visram.
The judge added that the parties had unsuccessfully attempted to renegotiate the repayment terms and settle the matter amicably.
“Further, it is evident that all efforts to renegotiate the terms of repayment and to compromise the matter in an amicable manner have failed. There is therefore no valid ground upon which the Bank ought to be restrained from exercising its statutory power of sale,” the judge ruled.
Moses Kuria Attempts to Block Auction
Kuria moved to court seeking to block both Equity Bank and Garam Investments Auctioneers from selling his land in Kiambaa, Kiambu County.
Court documents show that Kuria borrowed Ksh54 million from Equity Bank on March 15, 2018, to finance the construction of two five-storey rental apartment blocks. The loan was secured against three properties in Kiambu. As part of the agreement, the bank granted him a nine-month moratorium on principal repayment starting from the date of the first loan disbursement.
While Kuria admitted the loan was still unpaid, he attributed his inability to repay it to the Covid-19 pandemic, which disrupted the construction project and drove up the cost of building materials. He also told the court that he was hospitalized between 2020 and 2021 for a leg injury sustained in an accident, further delaying the project’s completion.
Kuria said one of the properties now facing auction comprises a completed five-storey building with 27 rental units. He added that he had presented a proposal to the bank to start repaying the loan.
Multiple Chances to Renegotiate
However, Equity Bank maintained that Kuria had defaulted on the loan despite multiple chances to renegotiate. The lender said it had issued all necessary statutory notices and instructed Garam Investments to proceed with the sale in accordance with the law.
Justice Visram said the evidence presented in court clearly showed that Kuria had fallen into arrears and failed to fulfill his financial obligations.
Equity Bank further disclosed that on January 24, 2025, Kuria agreed to settle the outstanding amount by making monthly payments of Ksh850,000. However, he failed to honor this arrangement. Kuria admitted to paying Ksh733,000 but claimed it was part of his efforts to clear the arrears.
“I take note that the said payment is less than the sum agreed to be paid between the parties, and based on the record, to date, no such appropriate payments have been made in accordance with the various agreement of the parties,” Justice Visram said.
The judge added that the bank provided evidence of sustained communication with Kuria, including several reminders about the overdue payments.
Judge Sympathizes With Kuria
Justice Visram expressed sympathy for Kuria’s health challenges but emphasized that personal circumstances were not sufficient grounds to stop the bank’s statutory right to sell the property.
“While I empathise with the applicant for suffering from health challenges, and was even hospitalised for a period between 2020 and 2021, unfortunately, the same is not a legal ground for the grant of the injunctive orders in these circumstances,” the judge stated.
The court concluded that the bank had served the required statutory notices and followed the law in initiating recovery proceedings.
“I am satisfied, in light of the above, that the relevant statutory notices were duly served on the Applicant, and that the Bank’s statutory powers of sale have crystallised in accordance with the law,” Justice Visram ruled.
With this ruling, Equity Bank is now legally permitted to proceed with the auction of the property in Kiambaa to recover the outstanding Ksh54 million loan.
