The High Court has ordered the auction of movable property belonging to Eco Bank Kenya Limited in a bid to recover KSh 284 million owed to the estate of the late Cabinet minister, Mbiyu Koinange.
In orders issued on September 19, 2025, the court registrar directed Moran Auctioneers to attach and sell the bank’s property after issuing a 15-day notice and making the required proclamation. The auction is meant to satisfy a decree in favour of the estate in Succession Cause No. 527 of 1981.
The directive comes in the wake of a ruling delivered on June 26, 2025, by Justice E.K. Ogolla, who found that Eco Bank had irregularly and unlawfully allowed the withdrawal of funds from account number 001005011762001, domiciled at Eco Bank Towers in Nairobi, under the estate’s name. The judge ordered the bank to reimburse the KSh 284 million together with interest from the date of deposit.
The estate had initially moved to court in March 2024, demanding that the bank account for the missing funds and disclose the beneficiaries of the withdrawals. With the auction order now in place, Eco Bank faces the prospect of losing property to offset the massive sum.
