Nairobi, July 26 -- Imperial Bank (In Liquidation) has taken over Salute Holdings, one of East Africa's largest Apple-authorised distributors, as the lender in liquidation steps up efforts to recover billions of shillings owed by borrowers.

In a public notice, Imperial Bank's court-appointed receiver manager, Kamal Anantroy Bhatt, announced that he had taken over the management of the Nairobi-based firm, best known for distributing premium consumer electronics, including Apple products.

This is the latest in an aggressive debt recovery strategy by the receiver manager, who recently also took over two other firms for non-payment of the lender's loans.

Mr Bhatt disclosed that Imperial Bank appointed him receiver and manager of Salute Hol...