Nairobi, July 9 -- Businesswoman Mary Wambui Mungai has lost her bid to stop Equity Bank's takeover of her luxury Glee Hotel after the High Court declined to suspend the lender's appointed administrator.

The court said the hotel had not shown sufficient grounds to justify the interim orders it sought while challenging the administration.

It ruled that the hotel had not disputed the existence of an outstanding debt, which the bank said stood at Sh9.1 billion, and found no evidence that the administrator had disrupted the hotel's operations since taking office on July 6.

The court also held that Glee Hotel's offer to deposit Sh400 million pending determination of the bank's insolvency petition was not proportionate to the debt claimed by...