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Kenyan Restaurant Says Loan Refusal Doomed Profits

Law360, London (March 7, 2019, 7:05 PM GMT) -- A high-end Kenyan restaurant has accused an African development bank of saddling it with loans for a development and then ditching the project, sticking the eatery with debt that was meant to be paid by revenue from the finished project, according to new documents filed with a London court. 

Nairobi-based Dari Ltd. has said East African Development Bank lent it $9.19 million for the acquisition of a property in 2015, only to hold back financing meant to develop the land into an income-generating facility. 

Dari launched another line of defense, hitting back at claims it owes the bank $13.6 million for allegedly...

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