Hass Petroleum Group Limited Chairman Abdinasir Ali Hassan has suffered a significant legal defeat after the Court of Appeal rejected his petition aimed at halting the sale of a prime property valued at KSh 1.2 billion in Nairobi’s Upper Hill.
The three-judge appellate bench, comprising Justices Wanjiru Karanja, Mumbi Ngugi, and Aggrey Muchelule, dismissed the petition with costs, ruling that it did not meet the necessary legal threshold.
Court documents dated September 15, 2020, show that One Upperhill Towers Limited had pledged the property to Credit Bank Limited as collateral for financial facilities worth KSh 1.2 billion extended to Jabavu Village Limited and Hasson Pharmaceuticals Limited.
On January 30, 2025, One Upperhill Towers Limited approached the High Court to challenge Credit Bank Limited’s plans to auction the property through Purple Royal Auctioneers and Garam Investments Auctioneers, arguing that the loan was being serviced as agreed.
The applicant contended that the proposed sale was malicious, procedurally flawed, and unlawful, alleging that the bank had failed to comply with mandatory provisions of Sections 89, 90, and 96 of the Land Act. They also argued that their right to redeem the property had been infringed.
The court, however, found clear evidence of default, noting that when a property is used to secure a loan and the borrower defaults, it becomes liable for sale. The judges consequently allowed the auction to proceed.
