Nairobi, May 16 -- Credit Bank Ltd has been given the green light to sell two properties belonging to a couple in Uthiru, to recover a Sh80 million loan used to fund a failed coal exploration project.

The High Court ruled that Foundation Piling Ltd and its owners, Ronald Njoroge King'ang'i and Bella Wagatwe King'ang'i, had not offered to repay the debt or provided any explanation for their default.

The court also confirmed that the bank had properly served all statutory notices, which the couple did not deny receiving.

"I am in further agreement with the Bank that its right to recover its debt by realising its security is being frustrated and the loan continues to accrue interest daily and there is a genuine risk that the debt will out...