Nairobi, Feb. 10 -- The High Court has ordered Bank of Africa Kenya (BOA Kenya) to pay more than Sh247 million to two investors, ending a 23-year dispute over fixed deposits placed with its predecessor, Credit Agricole Indosuez Limited, in the 1990s.

In two separate judgments, the court ruled that Credit Agricole Indosuez had received the funds, acknowledged them in writing, and created enforceable fixed deposits that were never repaid.

The court held Bank of Africa liable as the successor institution after it acquired Agricole's assets and liabilities in 2004.

The rulings resolve three related lawsuits filed in 2002. One case was brought by investor Nilam Doshi, while two consolidated suits were filed by Sanjita Shah.

Only BOA active...