The planned auction of Nairobi’s 14 Riverside Drive property has been temporarily halted after the High Court issued orders stopping the sale pending further directions on the dispute surrounding the process.
The ruling offers temporary relief to the owners of the commercial development, whose property had been scheduled for auction on Wednesday, May 26, 2026, as part of a long-running financial dispute.
The court directed that the auction be put on hold to allow parties involved to argue claims challenging the legality and procedure of the intended sale.
Following the decision, Cape Holdings welcomed the court orders, saying the ruling was an important development in a dispute that has dragged on for years.
“We are pleased that the court has agreed to grant a stay of auction. This is a significant step in achieving justice for what we have suffered these past 15 years. The road ahead is still long and we intend to continue fighting for our rights and for a fair resolution to this dispute which has gone on for too long,” the company said.
The court also instructed Moran Auctioneers to file responses to the issues raised within seven days ahead of further directions scheduled for June 2.
The latest development comes shortly after the Court of Appeal declined to issue temporary orders stopping the auction and instead set November 27, 2026, as the date for its ruling on an injunction application linked to the matter.
The dispute traces back to a commercial disagreement between Synergy Industrial Credit Limited and Cape Holdings over a property transaction dating back to 2010 involving office space at the Riverside development.
At the centre of the case is about KSh577 million paid as a deposit towards the purchase of part of the property. The deal later failed after disagreements emerged over delays in completing the project.
Synergy sought a refund, arguing the project had been delayed, while Cape Holdings maintained that the delays were caused by design adjustments allegedly requested by the buyer.
The financial dispute is said to have since escalated to more than KSh10 billion, with the High Court’s latest orders temporarily stopping the sale as the parties continue with legal proceedings over the contested auction process.
