Businesswoman Mary Wambui, popularly known as “Wambui wa Ruto”, has received a major boost after the High Court allowed her multi billion shilling case against Equity Bank to proceed.
The ruling gives Wambui another chance to challenge the lender over a dispute involving more than Sh8 billion linked to the financing of the luxury Glee Hotel in Nairobi.
Justice Freda Mugambi dismissed Equity Bank’s application seeking to strike out the case, ruling that Wambui had been properly authorised by Glee Hotel’s sole director, Evelyn Nyambura, to file the suit on behalf of the company.
The judge said the dispute should now be heard on its merits.
The decision comes weeks after Wambui suffered setbacks in court, including the placement of the hotel under administration as Equity Bank pursued recovery of the outstanding debt.
Wambui argues that the bank acted unfairly despite ongoing efforts to settle the debt through a refinancing arrangement.
The Glee Hotel dispute has also found its way into the political arena.
Former Deputy President Rigathi Gachagua recently claimed that Wambui was among business people who supported President William Ruto’s 2022 presidential campaign but were later abandoned.
According to Gachagua, Wambui borrowed heavily to complete Glee Hotel and used several of her properties as collateral, only to find herself battling lenders after the elections.
He alleged that those who stood with Ruto during the campaign were “left in the cold” once he assumed office. President Ruto has not publicly responded to those specific claims.
Court documents show the dispute stems from billions of shillings in loans advanced to Wambui and companies associated with her for the construction and financing of Glee Hotel. Several properties and personal guarantees were offered as security for the facilities.
With the preliminary objection now dismissed, the High Court will proceed to hear the substantive case, where both sides are expected to present evidence on the disputed debt and the bank’s recovery process.
The outcome of the case could determine the future of one of Nairobi’s most high profile hotel investments and settle the long running legal battle between Wambui and Equity Bank.