Nairobi, Aug. 13 -- Businesswoman Mary Wambui Mungai has lost a bid to remove an administrator appointed by Equity Bank to manage her luxury Glee Hotel Limited over a debt of more than Sh7.75 billion.

The High Court dismissed an application by the hotel's management challenging the appointment of Kamal Anantroy Bhatt as administrator and seeking to revert control to its directors.

The court upheld Mr Bhatt's appointment, ruling that Equity Bank, as a secured lender holding a qualifying first-ranking floating charge, was lawfully and validly made, in strict accordance with the requirements of the Insolvency Act.

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The court also issued orders restraining the company's...